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Project Location: Hichicastenango, Guatemala ("Chichi") & Santa Cruz del Quiche areas.
Project Objectives: 1. Provision of small loans to assist in the re-building of micro-businesses damaged by high winds & flooding from hurricanes in November. Loan Range of $400 to $600 (CDN$).
Target Group: Poor indigenous women with micro-businesses and women in the lowest socio-economic strata.
Number of People Impacted: 320 people (80 households of 4 members each); loans for 6 months.
Areas of Focus: Micro-businesses providing products & services in Chichi area.
Sustainability — How and for what time frame is project sustainable: Interest income from client loans will be sufficient to cover operating expenses and other costs well info the future.
Expected Outcomes: Loan repayment rate of 90%+, 80 small businesses re-built and operating and improved living conditions for 80 families.
Methodology (How will it Happen): Agreement signed between Rotary and Open to Grow (02G), funds transferred by Rotary to 02G; 02G transfers $20,000 to its partner and monthly project oversight & reporting by 02G's Adviser Dr. Francisco.