Rotary Global Micro-Credit Grant has been awarded to Rwanda Children Education Foundation (RCEF).
With this Grant RCEF will make loans to the parents of our students and enable them to start small businesses. This will help them to provide for their families and work their way out of poverty.
RCEF would like to thank the following Rotary Clubs in the Lakes Region of New Hampshire: Alton, Belmont, Gilford, Laconia, Lakes Region, Tilton-Northfield and the Interlakes High School Interact Club. Together, these Clubs donated nearly $15,000 which after a matching formula resulted in a final Grant of $49,000. The Mt. Joli Rotary Club of Kigali, Rwanda, will be overseeing this Grant. Thank you to all of these Clubs for your work on our behalf.
Pictures above: Mothers who will receive loans; RCEF Director, Jeanine, and Mt. Joli Rotary President, Aime; and the SACCO Bank employee training our mothers on how to manage their loans.
RCEF has four goals:
- Provide financial support for schooling for extremely poor children
- Provide mentoring for our youth
- Provide low-cost health insurance
- Provide micro-finance loans to RCEF parents to start small businesses and generate income
Upon receipt of this Grant, RCEF immediately started the first group of parents with Financial Training from SACCO Bank in Kigali. The ladies opened up accounts in the Bank and received their loans.
The first woman to receive a loan was a widow with three children. She buys and resells vegetables and wants to expand her business.
The second loan went to a husband and wife with six children. They want to purchase sorghum to make and sell sorghum drinks.
The third loan is going to three ladies who will start a business together making and selling a special mixture combining three types of flour.
Together, the Rotary and RCEF, will be making a difference in the lives of many poverty-stricken families in Rwanda!