Tuesday, September 11, 2012

The End of Poverty by 2040

Village Banking Group Africa
Photograph from www.finca.org

Dr. John Hatch has a PhD in Economic Development and is the founder of FINCA  (the Foundation for International Community Assistance), a micro-finance organization that uses village banking as its model. Dr. Hatch is credited with creating the village banking model, which has served as a example for micro-finance organizations all over the world. He also served as FINCA's president and director of research during his 22 years with the organization.

Below is an excerpt from FINCA’s website (www.finca.org) explaining the village banking model, which is unique because it promotes individual empowerment and encourages financial responsibility by emphasizing community relationships.

“The Village Banking method is the form of microlending that FINCA pioneered. It is economic democracy in action. A Village Banking group is a support group of 10-50 members—usually mothers—who meet weekly or biweekly to provide themselves with three essential services:
  • small self-employment loans-–as small as $50 or $100--to start or expand their own businesses
  • an incentive to save, and a means of accumulating savings
  • a community-based system that provides mutual support and encourages personal empowerment.
Village Banking group members guarantee each others’ loans and run a democratic organization. The group guarantee is important, since borrowers don’t have the kind of collateral a commercial bank would be seeking to lend them money. Groups represent grassroots democracy in action; members elect their own leaders, design their own bylaws, keep the books, manage the funds, and are fully responsible for loan supervision, including enforcing penalties for non-compliance.”

Dr. Hatch will be addressing how the village banking model and micro-finance in general can be used as a means to end poverty around the world. With his expertise and lifetime of experience, it is sure to be an enlightening luncheon.

For a full biography of Dr. John Hatch, please visit our website.

Dr. Hatch will be speaking on Friday, September 21st, from noon to 1p.m. If you are interested in attending, we strongly suggest that you RSVP to us by Wednesday, September 19th. Admission is $23 for members, $26 for non-members if paid in advance, and $26 for members, $30 for non-members if paid at the door.
To pay in advance, click here. If you would like to pay at the door, you can RSVP by sending us an email (info@alaskaworldaffairs.org) or giving us a call (907-276-8038). 

The session will be moderated by Eric McCullum, an Alaskan businessman.

No comments: