You should design the outline of a microfinance program for a small community of “refugees”.You should consider the specific needs of the refugee (or IDP or migrant) community you select in designing the program.It would not be a thoughtful design to use Grameen’s model with no modifications to address the specific needs of these communities, but is a good reference.
Questions that need to be answered are on the file attached.
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
please find the attached file. i believe it aligns with what you had suggested although i had already completed.i look forward to working with you again. good bye
Running head: MICRO FINANCING
‘To promote Syrian refugees’ independence by offering them micro financing which will
ensure their independence in the communities hosting them’
By raising funds through its donors, UN in association with other NGOs can help
implement this micro financing plan and assist the over 4.7 million Syrian refugees who are
currently hosted in countries such as US, Lebanon, Jordan, and Turkey. Majority of these
refugees live below the poverty line, with at least 90% of them relying on resources handed
to them by various humanitarian organizations (UNHCR, Syria emergency, 2018). Therefore,
a micro financing program initiated with the aim of offering them affordable micro business
financing will enhance their independence and make it possible to establish a sustainable
source of income for them and their families.
Because self-employment is instantaneous and sustainable in the long term, this
program will help the Syrian refugees build their own assets and establish self-reliance. The
program will target both women and men by giving the two groups of people an equal
opportunity to access microcredit meant to improve the quality of their lives. Therefore, the
program will focus on promoting employment rate and economic development of the
refugees by offering them the necessary support to start and grow their small businesses.
Through the program, refugees will be able to restart their lives; they will integrate into the
host community, and will be able to contribute to the local communities’ economic
development. The loans will be offered to refugees at zero interest, only with the aim of
boosting their small scale manufacturing, farming, and other agriculture related small
Differences from traditional bank
Unlike traditional financial institutions which are designed with the intention of
supporting those who already have financial assets as collateral, the program will be
established with the sole purpose of providing finances to the refugees, who are classified
under poor communities and lack collateral. Unlike the traditional bank setting, the micro
credit program will offer financial support to the selected group of refugees with no
guarantees and at zero interest. The program will also offer a more flexible repayment plan
and will attract minimal interest charges for any late payments. Due to these friendly terms,
the program will be more viable to a wide range of micro entrepreneurs by providing them
with a financial bridge of the current traditional banking system and business financing.
Unlike traditional banks where the client has to look for the bank for financial
support, the NGO based micro credit program will focus on looking for viable candidates,
and offer them the loans with the least possible bureaucracy. The program will offer t...