23.4.08
April 2008
Baan Pa-Thuum (Phrao, Chiang Mai)
Common Interest has been experimenting with the "Village Banking" methodology. Our first Village Bank is in a Thai village just south of Phrao (Chiang Mai). 24 women have joined together and save money each month. They use the savings to provide loans back to each other. In the even that the savings is less than the demand for loans, the Village Bank borrows money from us. The video below shows the leaders signing a loan contract on behalf of the Village Bank. The group receive a loan totalling $4000 USD (120 000 baht)
The Village Bank then uses the money to provide loans to its individual members. Members do not need to provide collateral. Instead, they co-sign loans for each other. The following video shows some of the members signing that they will be guarantors.
Common Interest has been experimenting with the "Village Banking" methodology. Our first Village Bank is in a Thai village just south of Phrao (Chiang Mai). 24 women have joined together and save money each month. They use the savings to provide loans back to each other. In the even that the savings is less than the demand for loans, the Village Bank borrows money from us. The video below shows the leaders signing a loan contract on behalf of the Village Bank. The group receive a loan totalling $4000 USD (120 000 baht)
The Village Bank then uses the money to provide loans to its individual members. Members do not need to provide collateral. Instead, they co-sign loans for each other. The following video shows some of the members signing that they will be guarantors.
