Releasing the Talents of the Poor in Lima, Peru with Microcredit

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Summary of Need

The microcredit program will be developed in the district of San Juan de Miraflores, which has an estimated population of 367,000 inhabitants, with a density of 15,310 inhabitants per square kilometer. Of the residents, 6.3% are suffering from chronic malnutrition. Housing is inadequate and is lacking in basic services such as water and drainage. The population of San Juan de Miraflores consists largely of people who have migrated from rural areas with very low educational levels. Eight out of 10 heads of homes do not have a primary level of education. The women represent a particularly vulnerable group. Unemployment and sub-employment affects at least 50% of the population nationally.

Click here to read the blog of Colleen Dyble, a Five Talents Fellow who will be working with the Anglican Diocese of Peru and ECLOF Peru in microenterprise development from July 2009 to July 2010.

Click here to read reflections from Five Talents Latin American Coordinator Tom Waddell's trip to Peru in April 2008.

Click here to view a program update.

Project Description

Five Talents International (FTI) has formed a three-party partnership with the Anglican Diocese of Peru and the Ecumenical Church Loan Fund (ECLOF) – Peru. FTI will provide $33,000 in financing for micro-credit loans. An additional $10,375 will be provided by ECLOF - Peru to pay for administration of the program. ECLOF Peru, an ecumenical organization, works in

partnership with Christian Churches, including the Anglican Church. The Rev. David Limo Pajar, an Anglican priest, is a member of the ECLOF- Peru Directive Council. The Diocese has chosen the area in which the loan program will operate and will assist in identifying loan recipients and providing spiritual development.

The strategy to be used will be group lending. Women entrepreneurs identified as having the lowest income levels, derived from small business activities, are given priority in membership selection for Solidarity Groups. Group members receive training before loan distribution and while the loan is in effect. Loans are disbursed in the form of “credit steps” which begin with $300 and, as the business expands, loans will increase over time. The San Juan de Miraflores program’s goal in the first year is to increase the financial stability of at least 140 families, benefiting approximately 700 individuals and raising the income level per family by 30%.

How you can help

In 2010, Five Talents needs gifts totaling $165,000 so we can help ensure the Anglican Diocese of Peru has the ability to reach those living on the margins of society.

Help us break the cycle of dependency by supporting the Five Talents International Lima Peru program. You will be fighting poverty, creating jobs and transforming lives!