Microfinance - UU Westport finances 3 Village Banks in Tajikistan.

In December 2006 and January 2007, UU Westport raised over $15,000 to support “microfinance” and community development in two impoverished countries.

In the first phase, the UU-Westport Global Justice Committee worked with FINCA, a leading microfinance agency to identify impoverished countries where microfinance would be effective. FINCA recommended that our initial efforts be targeted at supporting women in Tajikistan, one of the poorest countries in the world and only now recovering from a decade long civil war. The first $10,000 helped establish three Village Banks in the southwestern region of Tajikistan, along the border with war-torn Afghanistan. Tajikistan has been an important ally of the US in the struggle against the Taliban, and development specialists see the creation of small businesses and employment in Tajikistan as a bulwark against religious fundamentalism. The micro-banks will enable women to take out loans, build their own small businesses, and improve the lives of their families. Early reports show that 19 women and four men were able to take out loans from the new banks, using the proceeds to buy seed and tools for their farm plots, to purchase ingredients for food which they sold in the local bazaar, and to purchase materials for hand-made textiles. By providing the capital for small loans, ranging from $100 to $400, UU-Westport families have enabled hard-working women in this predominantly Muslim country find dignity and new hope for their families. FINCA will send an update on the village banks early in 2008.

In the second phase of the UU-Westport community building efforts, a $5,000 grant was made to Busoga Trust – an organization that helps provide clean water to villages in Africa. The funds will be used to drill new water wells, clean up existing streams, and purify water sources in several communities in eastern Uganda. International research shows that clean water is one of the most critical elements in combating disease and ensuring that children and families can lead healthier lives. A special program on the activities of Busoga Trust will be presented at UU-Westport in spring 2007.

A nationwide Unitarian Universalist Microfinance Initiative was launched in 2007 to bring together UU activists in support of microfinance. This effort, jointly sponsored by the UUA United Nations Office and the UUA Socially Responsible Investing Committee (SRI), seeks to encourage congregations and individuals to make investments into approved microfinance agencies. If congregations invest between $2,000 and $10,000 from their church endowments into UUA endorsed microfinance agencies, the SRI will match these funds. The initial list of endorsed agencies include: Oikocredit, Microvest LP, and Shared Interest. The UU Microfinance team also recommendations donating to significant microfinance agencies, including: Pro Mujer, FINCA, Freedom from Hunger, and KIVA. More details are available on the UUA Microfinance website.

Click here to learn about Microfinace.

Click here to learn how it works.

For more information, contact David Vita, Social Justice Director -