New record for micro credit

In March 2015, a micro credit cooperation between SustainableEnergy, MFC Nyetaa, and the micro credit institution Nyetaa Finance set a new record: 728 approved loans of a total 900.000 DKK.

The scheme is simple: The project organises income-generating groups who are offered beneficial loan conditions for sustainable alternatives to woodcutting.

In March 2015, there was three times as many lenders as in 2013, when the scheme started. Hélène Mounkoro, supervisor in MFC, sees awareness raising efforts as the key to the success.

Many visits in the villages and special emissions in the local radio has raised awareness and cleared questions and doubts. Hélène explains: « We always begin by explaining the context; that we support groups to protect the environment. That motives people to organise. And they have ideas for activities. When they know that they can go to Nyetaa Finance and with their own eyes have seen others take credit too, they are motivated to go themselves.”

The repayment rates are high and Hélène believes that the scheme can continue after MFC exits the project area: “Already this year people from one municipality negotiated directly with Nyetaa Finance without MFC. There, it will work, I have no doubt.”