Microfinance Project Set for Rural Kenya, Tanzania, Uganda

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CRS Savings and Internal Lending Communities (SILC) meet each week to save money and provide group members with micro-loans against the pooled capital. Individual savings and records are kept in a locked box for privacy and security. Photo by CRS staff.

The CRS website just published a release about an $8 million grant that will enable Catholic Relief Services and local partners to set up microfinance operations for families in Kenya, Tanzania and Uganda. Microfinance programs offer access to small loans and help increase savings. According to the release, “The three-year project will help form more than 14,000 savings and lending groups comprised of almost 300,000 members, with the ultimate aim of improving participants’ incomes and quality of life.”

Find out more about microfinancing.

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3 Responses to “Microfinance Project Set for Rural Kenya, Tanzania, Uganda”

  1. Amy Says:

    This is exciting! How much seed money does each SILC group usually receive to get started?

  2. Heather Moesges Says:

    Last Sunday at church I recieved the names of 2 ladies to pray for. Margie Pitogo from Philippines and Edith Munbi Gatonye from Kenya.
    I would like to extend a micro loan to each of these ladies. Can you help me with this?
    God’s blessings to you and yours,
    Heather

  3. Stephen cheboi Says:

    Thank you CRS for the support you give to the poor all over the world and may Almighty Father bless you. By serving the people you are serving God. am in SILC catholic Diocese of Eldoret – Kenya.
    Regards.

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