Taung Ywar Thit Village
The new loan will enable this community to raise livestock, which is a crucial supplement to crop income, given the variability of harvests in this region. One small goat costs $80 to purchase and can be sold for $150, a $70 profit, after nine or ten months. Raising livestock is also very helpful to farmers because animal manure is used as fertilizer to improve soil conditions, meaning that they do not have to pay for expensive chemical fertilizers. Additionally, many villagers will cultivate toddy palm trees to sell palm sugar, and many women will set up small grocery stores in their homes to generate supplementary income.
Pictured above are the committee members from the village CBO: U Chan, Daw Mi, Daw Nyunt, Daw Mar, U Phoe, and U Sann. Included in the photo (second from the right) is U Phoe, who is married and has four children. Two of his children are still studying at a monastery school in a nearby village. He is raising about 30 goats on his farm and will use his new loan to purchase more small goats.
More information about this loan
This loan will be facilitated through Proximity Designs network of Community Based Organizations (CBOs) in order to support rural farmers in Myanmar’s Delta and Dry Zone regions. Proximity worked closely with CBOs to provide relief services after Cyclone Nargis and to support village infrastructure projects.
CBOs also play a key role in providing access to microcredit. In this model, CBO committee members support Proximity loan officers throughout the entire loan cycle. They assist in selecting village borrowers and also act as formal representatives during loan disbursement, collection of repayments and other communications. CBO committee members appear in Kiva profiles – often alongside village borrowers – as representatives of the community.
Since families rely heavily on income from farming to support their livelihoods, these loans are structured with a single bullet repayment at the end of the loan term. The timing aligns with expected harvest season when borrowers will be able to repay. All community members who receive financing through the CBO model must repay their portion of the loan before a village will be eligible to receive new funding.
About Proximity Designs:Proximity Designs is a non-profit social enterprise that offers loan products to help small, low income farmers increase their productivity and income. There are around 12 million farmers in Myanmar who make up more than a third of the labor force. The majority of these farmers have virtually no access to formal credit institutions.
In the absence of other financing opportunities, most small farmers in Myanmar are unable to afford the equipment, material, and labor necessary to grow their crops without the help of Proximity Designs. Kiva funding will be used to help Proximity Designs expand its agricultural microfinance operation and reach more low income, rural farmers.
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About Myanmar (Burma)
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Success!! The loan was 100% repaid