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Arkansas Catholic
Little Rock, Arkansas
December 9, 1990     Arkansas Catholic
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December 9, 1990

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ARKANSAS CATHOLIC DECEMBER, 9:1990 PAGE 9" "Alternative giving" offers Christmas help to needy Baltimore (CRS) - Her thumbprint the only collateral she had. Any ther bank would have refused this Senegalese woman the morley she needed to start her own business, but this one did not. iI This is a special bank, a community- !t0ntrolled "revolving loan fund" spon- red by Catholic Relief Services (CRS). i!tlS hoped that this specially designed ball enterprise development program have a lasting effect on the eco- [%rnic well-being of the participants. [ :Senegal is a special case. It is a coun- l with rising unemployment due to a trUctural adjustment program imposed bY the International Monetary Fund in ihe early 1980s to help draw Senegal uUt 6f its economic crisis. Major policy reforms reduced the government's work f rce without creating new jobs to ab- S0rb the unemployed. ..Unfortunately, as is often the case [th ring times of structural reform, the [Price for Senegal's adjustment program being paid by its poorest citizens. key are the first to suffer, and when i~i ;: i~ : ~ : 3 >~ ~ ~ :~ ~ CRS Mohamud, a regional bank president in Senegal, discusses with villagers the by-laws of their newly established community-based bank. be used to finance future enterprises This is how the program works With initial funding from CRS, the village bank is organized by not more than 50 members who elect a management committee to run the bank. Each member can borrow without collateral and invest in whatever he or she chooses. happens, CRS responds first by r viding a safety net and second by eVeloping opportunities for the %rest to benefit from the changes. ] ::In rural Senegal, CRS responded with By design, tile life Of the loan is [ theSevolving credit fund. It selected a normally set at four months. This en- |%Unterpart organization, Village Fed- courages villagers to diversify their ac- [ tation of Birkilane, to set up the, fivities outside agriculture andseek, Senegal, "People often have good ideas for making money and they want to be productive, but they rarely have access to credit." In the case of much of Africa, women have the least access to credit. But, according to Abdoulaye, "Women are better payers and savers in the loan system. And, the profits are used for the benefit of family/ Since the loan program began in liargram in three villages. The objective rapid turnover investments that gener- two-fold: to develop tile potential (.l/Vo fd ate cash, When seeking a new loan, a L r'these villages to foster growth by member s line of credit increases by an .7.= " ICI | a ing money to the self-employed amount equal to his accumulated sav- ilk%r, and to develop a savings base that lugs. urrtE sra04 serve as a long-term source for According to Abdoulaye Ndiaye, CRS 568-0021 H. R0lf Attend the weekly Rosary at 6 PM on [ lcapiml. Whiscapiml, int.rn, wo.ld Acting Country Representative in Wednes . y in Christ the King'sC.hapel. EOeryone needs to know they're recog- Call Rome for spiritual messages of the h ized.., understood.., appreci- Holy Pather. The service is provided by the ated.., welcome in ~e innerm0st cirdes d l~dio Vaticana, u-sing a system s~pplied by heart and soul: It's a matter of love. These Voice Mail International of Calif0rnia. It is qualities echo in the words of the Holy Fa- FREE, and available on a 24-hour basis. ~bur ther in Rome, now yours through your tele- telephone company willbill you only for the plmne! call to ltaly...about $2 for 2 minutes dur- Every day, the Pope in Rome offers a ing economy rotes between 6 txm. and ~gecelebratingliie...wOrdsyou ~ 7a.m. cantiveby'Hearthecmpassinate [A~II~ ~ Any phne will d' Just dial 011' words of the Holy Father any ~ ~,,~l thenlhenumlx~listedbelowforthe ni#rluac~l. ~. ~1 RADIO VATICANA In Ittlltno In Engllth En 011 3977793010011 39 777 9~020 011 3977793030 - 5114 Kavanaugh 663-4118 ] . Little Rock R.H. Saxton .,,,) | 2801 Kavanaugh Blvd. Little R~ck| L 663-4131 ~ Free Delivery ) Senegal in 1988, more than 250 loans have been written in the three villages. The average size was $83, and the money was used for projects such as cattle fattening, chicken-raising and petty trade. "Tim idea behind die savings," ex- plains Abdoulaye, "is that after getting a loan a number of times, say five times, the personshould have enough per- sonal savings,to go and get a loan within, tile formal banking sector. That is what ' we call graduation," lie adds, or credit worthiness. Besides gaining financial security through this program, Abdoulaye has seen the participants gain self-confi- dence as a result of their accomplish- ments. This is file most valuable, in- tangible benefit of the program. Catholics ,interested in helping per- sons participating in such self-help pro- grams may join CRS' "Alternative Giv- ing" program. Readers who would like to contribute to the CRS Alternative Giving program should send contribu- tions to Catholic Relief Services, Alter- native Giving Number 049019, 209 W. Fayette St., Baltimore, MD, 21201-3402. CRS will send you a special Alternative Giving Gift Card which you can give to a friend or relative, instead of a gift. Please indicate if you would like more than one Alternative Giving Card. ' Tisthe season to give gourmet coffee and gift baskets..., Call 228-9900. THE BIG APPLE Ib Deli & Gourmet Coffee House Green Mountain Plaza, Little Rock Mon.-Sat. 10AM ttl 6 PM All major credit cards accepted ou're assured when you're insured. l Risk Managers - Insurance 1501 N. Pierce in the Hillside Building, LR .664 - 0204 Howard Hardin Larry Wilson