(C) 2020 Nos Di Tchada i Amigos, Inc.
About the Program
Implementation
AKD and the beneficiaries will sign a "Good Faith" agreement acknowledging the loan
amount and repayment guidelines.
After receiving the loan, the beneficiaries will have a maximum period of 10 months to repay it. There will be no fees, or any interest charged to the beneficiary.
Understanding that not everyone will experience same level of success, AKD will establish a process and guideline to work with those that fall behind on their payments.
With the monthly payment of each loan, we will have the opportunity to include another beneficiaries monthly, making this fund a continuous credit to support the informal sector and foster the local economy.
After receiving the loan, the beneficiaries will have a maximum period of 10 months to repay it. There will be no fees, or any interest charged to the beneficiary.
Understanding that not everyone will experience same level of success, AKD will establish a process and guideline to work with those that fall behind on their payments.
With the monthly payment of each loan, we will have the opportunity to include another beneficiaries monthly, making this fund a continuous credit to support the informal sector and foster the local economy.
NdTiA Microcredit refers to a program committed to providing small loan to man and
women who depend on the informal sector to generate income to support their families.
The program started in 2020 in collaboration with Associacao Kelem em Desenvolvimento (AKD) - a non-profit organization in Cabo Verde.
During the height of COVID-19 pandemic, restrictive measures taken to fight COVID-19 increased the relative poverty level of workers in the informal sector. The countries with the largest informal economy where lockdowns and restriction measures were applied are the ones that have suffered the most from the economic consequences of the pandemic.
In Cape Verde, a country where a large part of the population, especially mothers and heads of families, live in the informal sector, the consequences have been strongly felt.
From this perspective and thinking about the various ways to help mitigate the effects of CoVid-19 on the informal sector, this program was established to support workers in the informal sector in Kelem (Achada Santo Antonio), for the resumption of their economic activities.
We are planning to expand this program to other islands as well.
The program started in 2020 in collaboration with Associacao Kelem em Desenvolvimento (AKD) - a non-profit organization in Cabo Verde.
During the height of COVID-19 pandemic, restrictive measures taken to fight COVID-19 increased the relative poverty level of workers in the informal sector. The countries with the largest informal economy where lockdowns and restriction measures were applied are the ones that have suffered the most from the economic consequences of the pandemic.
In Cape Verde, a country where a large part of the population, especially mothers and heads of families, live in the informal sector, the consequences have been strongly felt.
From this perspective and thinking about the various ways to help mitigate the effects of CoVid-19 on the informal sector, this program was established to support workers in the informal sector in Kelem (Achada Santo Antonio), for the resumption of their economic activities.
We are planning to expand this program to other islands as well.
The program seeks to support mothers and heads of families operating in the informal
sector, with a small loan to help restart or continue their business.
Based on funding provided by NdTiA, AKD will select 15 to 20 beneficiaries that meet pre-defined criteria that includes:
1. Operate exclusively in the informal sector
2. Being a mother or head of family
3. Not having benefited from monetary support from the government
4. Household size
5. Poverty level
6. Size of Business
The loan amount, between $7,000 to $10,000 escudos CV, will depend on the score awarded to each beneficiary, based on the established criteria listed above.
Based on funding provided by NdTiA, AKD will select 15 to 20 beneficiaries that meet pre-defined criteria that includes:
1. Operate exclusively in the informal sector
2. Being a mother or head of family
3. Not having benefited from monetary support from the government
4. Household size
5. Poverty level
6. Size of Business
The loan amount, between $7,000 to $10,000 escudos CV, will depend on the score awarded to each beneficiary, based on the established criteria listed above.
Click To Donate
Repayment Process
NdTiA
IWSP Fund
Donate Here