Savings and Credit Schemes
Savings and credit schemes are a significant approach in organizing the community. This facilitates the access of financial services to the poor community living in rural and urban centres of which the majority can not access the loans from financial institutions like banks due to different reasons including high interest rates and lack of collateral. Savings starts from organized groups within the targeted settlements through our mobilization efforts and later form up a network of many saving groups say the youth, women, village saving groups.
GRONET trains officers in agreement with the local village leaders and the community to create and lead these groups, interested members of the community form initial groups and start saving as well as receiving series of trainings by trained officers. These officers are responsible for froming and overseeing a target number of groups in the village/community and its surrounding areas, the officers are tasked to identify and train 5 more agents and mentor them as they each also form an identify more groups and the process continues in the near by communities. The savings and credit groups enables the community to access loans on low interest reates and an easy way to get a loan during emergencies.
GRONET has a variety of saving schemes which aim at differnt purposes. Promotion of these community based microfinance groups leads to improvement in household business outcomes, women's empowerment and strong welfare impacts.
By working together, we enhance our collective impact and cost effectiveness, and contribute to a just country/economy without poverty. Donate to support the rural and urban poor marginalzed people.