MICROFINANCE UPDATE from International Director - Udo Schutze |
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The “Maunmeni” community that we have funded is in the vicinity of Oesau town, which lies about 25km North-East of the capital Kupang. It therefore falls under the administration of one of the Kupang branches of TLM, the local administrator of the scheme. It is obvious that West Timor continuous to need a lot of support, which is why we decided earlier in the year to try to raise the funds ($10,000) for a second Trust Bank. Although we have not had a Consortium meeting for a while, Heirisson has been working on ways to spread the load for this additional funding. We are planning to have another Consortium meeting in February 2009 to discuss all this, by which time some additional clubs will hopefully be ready to join the project. |
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