More information about this loan
Through the Silvopasture loan, Afodenic will help smallholder farmers, whose livelihoods are principally derived from livestock, to diversify their incomes. These loans will be used to plant income generating fruit and nut trees, such as cacao, on grazing lands. Silvopasture is the practice of combining forestry and grazing of domesticated animals in a mutually beneficial way. Advantages are enhanced soil protection, reduced natural pollution by livestock, and increased medium-term income due to the production of trees and fruits.
Despite being the country’s most important export and playing a vital role in the local economy, Nicaragua’s livestock production is currently heavily lacking in resources to increase efficiency and sustainability. Today, hard pressed farmers are raising their livestock in inappropriate conditions, allowing overgrazing and administering medications to the animals that increase environmental pollution. Moreover, for many, livestock production is the only source of income, leaving families vulnerable to market conditions, as in 2008 when cattle prices sharply fell in Nicaragua.
About AFODENICThis loan is administered by AFODENIC, La Asociación para el Fomento al Desarrollo Nicaragua, a Kiva Field Partner based in Managua, Nicaragua. Founded in 1999, AFODENIC was created to promote the socio-economic and cultural development of sectors that are excluded from commercial banking. Integrating economic and human resources, AFODENIC offers affordable and adaptable financial services aimed at strengthening the family unit of their clients, who include students, producers, and micro- and small entrepreneurs from rural and urban areas. AFODENIC is a socially responsible institution engaged in society and making a positive impact on its professional partners and communities.
Supporting a borrower through AFODENIC contributes to the pursuit of innovation in mitigating poverty in Nicaragua. Visit AFODENIC’s partner page for more information.
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