Media reports questioning micro-financing efforts in India have no relationship to Zafen. For those who are interested in the Haitian / Zafèn perspective on this issue, very seldom (and in the case of Zafèn, never) are microloans designed to be given (as mentioned in many articles) to buy a house or other non-income-producing activities. Microloans were originally meant to support activities where the borrower would produce income, some of which would be used to repay the loan. In connection with the projects that eventually get posted on Zafèn, we use significant due diligence to ensure that all enterprises to which money is loaned propose projects where income will result, sufficient to repay their loans – and such that the type of pressure discussed in the article is not the end product.
We encourage members of the Vincentian Family to consider Zafèn as an option when they ponder their holiday giving options since a loan through Zafèn will offer a gift of financial independence and human dignity during this Christmas season.
Tags: India, micro-loans, Zafen
