Who we are
The Canadian Team are members of the Vancouver business community who want to make a difference to world poverty. We believe microcredit is a powerful way to do this. We work together as the Rose Microcredit Committee of Rose Charities Canada to raise funds and support for microcredit and microfinance. We are a part of Rose Charities Canada, a Canadian registered not-for-profit organization and part of the Rose Charities International Network.
The Sri Lanka Team run the microcredit program for Rose Charities Sri Lanka. We are men and women representing all the major religious and cultural groups of Sri Lanka. We believe that microcredit should be equally available to all in the community irrespective of gender, culture, religion or politics.
What we do
- TEAM CANADA:
- We administer a microcredit project in Sri Lanka in partnership with Rose Charities Sri Lanka.
- We focus on the start-up of new microcredit projects, where there is the greatest need.
- We raise money for microcredit and have set a goal of $1 million by 2011.
- We are developing a small microcredit model for remote communities.
- We partner with non-profit organizations to support microcredit.
- We support the concept of microfinance, which is the expansion of microcredit to include other financial services such as savings accounts, health insurance and scholarships.
- We are a part of Rose Charities Canada and adhere to their mission statement.
- TEAM SRI LANKA:
- We administer the microcredit project in Kalmunai Sri Lanka.
- We maintain financial and progress reports and liase with the Vancouver team.
- We expand the program into new areas and conduct training and community awareness programs.
- We develop relationships with Sri Lankan organizations and agencies to support and enhance the microcredit program.
- We look for opportunities to train and improve our skills.
Why is this important?
Microcredit has helped millions of families around the world. Established microcredit projects are well funded, but there is little funding or support available for small start-up microcredit programs. Many small communities worldwide still have no access to microcredit and there is a need to develop a simple microcredit model that can be run by the community themselves.
Rose Charities Sri Lanka has developed a small microcredit model that is run by the community to meet its own needs. Starting with an initial investment of $5000 it has grown incrementally over a 3-year period until it has reached self-sufficiency. The Vancouver Rose Microcredit Team funded and monitored the progress of this pilot project from start-up to self-sufficiency. After the first year this project had enabled 500 families to begin small income generating businesses. By year three, over 1000 families have received loans. The project has also provided valuable lessons on how to develop a community based microcredit program. In 2009, in association with Global Agents for Change, the microcredit loan capital was increased and the program was expanded into the villages surrounding Kalmunai, providing many more people with access to microcredit.