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(Since October 1999)
Background & Objectives
Stemming from ABA’s organizational commitment to extend credit and non-financial
services to the poorest of the poor, especially poor women - Female Headed
Households
(FHH), ABA has initiated a distinguished program –
Blossoms of Micro
Enterprises – in late 1999.
The new program is generally targeting the poorest of the poor with specific emphasis on
FHHs. The program focuses on the rural and urban low-income communities. In more specific terms, the program objective is to assist individuals in initiating/expanding income generating activities to improve their living standards. The program also aims at improving the social, cultural, and health standards for participating FHHs and their family members.
Modalities:
The program adopts “Solidarity Group” methodology in loan extension. Each group consists of five members from the same neighborhood. Loan amounts ranges from 150 to
800 Egyptian Pounds (US$ 26 to 140) and are repaid on weekly installments. Loan term ranges from 10 to 40 weeks according to individual cases.
Accomplishments:
On March 2007 the program
reached over 84,000 with about 30,000 active clients. The
program is maintaining a zero delinquency rate since
inception .
Social Dimension:
Given the very specific nature and needs of poor FHHs, the program blends financial with non-financial services in the same package. Every month a “Friends Meeting” for 3 to 5 groups from the same neighborhood is held. Before the meeting day, a topic is selected
and discussed by participants. Examples of those topics include: personal family
hygiene, pollution prevention, solid waste handling, first aid, obtaining Identity Cards for women, illiteracy eradication, among others. Where possible, ABA recruit individuals or organizations specialized in these services to provide guidance, practical solutions and insight to the “Friends” meeting.
Graduation:
Clients of this program could graduate to join the
Development Path Program and receive loans according to its regulations and methodology. |
