Microfinance Programme

IDYDC MICROFINANCE PROVIDED LOANS YESTERDAY
Members of IDYDC Microfinance at the seminar before being given their loans

The loans were given to the members of Idydc microfinance
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IDYDC Microfinance means that providing very poor families with very small loans to helpe them engage in productive activities or to run small sustainable businesses and thus to enable them to meet their basic needs and improve their livelihoods.
Microfinance is the most powerful tool we have identified to help the very poor, those living below $1 a day.

IDYDC Microfinance most commonly it involves making small loans to poor women and Youth to enable them to start and grow small businesses. The additional income from the business helps a poor family to buy basic needs such as food, clothes, access basic health care, educate their children, save a little and towards a better future hence many of them in due course, pull themselves out of poverty.
Microfinance is one of the poverty alleviation mechanisms that the United Nations Millennium Development project has adopted to meet its goal to eradicate poverty.
IDYDC Microfinance has come to include a broader range of services which include credit, savings, training, etc as it has been recognized that the poor who lack access to traditional formal financial.


FAQs: ABOUT IDYDC-MICROFINANCE.
What is IDYDC Microfinance?
To IDYDC Microfinance means that providing very poor families with very small loans to helpe them engage in productive activities or to run small sustainable businesses and thus to enable them to meet their basic needs and improve their livelihoods.
Microfinance is the most powerful tool we have identified to help the very poor, those living below $1 a day.
IDYDC Microfinance most commonly it involves making small loans to poor women and Youth to enable them to start and grow small businesses. The additional income from the business helps a poor family to buy basic needs such as food, clothes, access basic health care, educate their children, save a little and towards a better future hence many of them in due course, pull themselves out of poverty.
Microfinance is one of the poverty alleviation mechanisms that the United Nations Millennium Development project has adopted to meet its goal to eradicate poverty.
IDYDC Microfinance has come to include a broader range of services which include credit, savings, training, etc as it has been recognized that the poor who lack access to traditional formal financial.
WHEN AND WHY IDYDC STARTED MICROFINANCE.
IDYDC introduced the microfinance in 1999 as a consequence of working with street children and disadvantaged youth. It was observed that many children and youth in Iringa region run away from their homes because of poverty and lack of basic needs, others drop out from schools.
The intention of establishing microfinance was to support the needy, vulnerable people in the community, like widows, widowers, PLHAS, poor women and men or adolescent orphans and youths.
IDYDC experienced that most financial service providers in Tanzania are targeting financially capable clients who pose a minimum risk to the institutions. However, IDYDC targets people who for example cannot afford a warm meal twice or three times a day. They have different backgrounds like divorced, neglected or abused women, widows, people from extended families, care takers of people living with HIV or orphans, even retrenched people, unemployed youth, (generally poor  and low-income people)
IDYDC microfinance supports the target people with soft loans for operating small scale businesses like running street kitchens, restaurants, groceries, kiosks, saloons, plant nurseries, carpentry or welding workshops, selling second hand clothes, stationeries, fish, meat, chips, eggs, fruits, vegetables, engaging in photographing, tailoring, knitting, molding or keeping livestock or poultry, making shoe shine or run other projects which they will benefit from. Through this the Microfinance helps to create self employment.
IDYDC intends to reach out to more target people, especially Women and youth in all seven districts of Iringa region and other parts of Tanzania for who we need financial support.

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