Myin Su Village
The new loan will enable borrowers to hire laborers to help with harvesting and to purchase high quality seeds for next season. Capital for harvesting expenses is essentially needed because the farmers have to harvest the crops very soon. For next season, additional capital is needed to purchase quality seeds for crops such as groundnuts, pigeon pea, and green gum. One grain of those seeds costs, on average, $50. They also have to cultivate millet to feed their cows. In addition, the village is now raising funds to build a well at the monastery, where every household can get enough water for domestic use. Currently, the village has only one old well to supply water.
Pictured above are the committee members from Myin Su Village CBO: U Win, U Thein, U Than, U Kyaw and U Than. Included in the photo (second from the left) is U Win, who is 50 years old and has nine family members. His new loan will be used for purchasing sesame seeds and high quality fertilizers for his farm. As he is raising livestock such as cows and bulls, these animals' manures are used as a supplement to expensive chemical fertilizers to improve soil conditions on his farm.
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.
About Myanmar (Burma)
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Success!! The loan was 100% repaid