Winners of Round Three of the PPIC

May 6, 2008    

Alternativa Solidaria Chiapas A.C. (AlSol Chiapas A.C.), Mexico
Alternativa Solidaria (AlSol) originally only offered savings and credit services to women in the violence- and poverty-ravaged state of Chiapas. However, when several clients died and their families have had to liquidate assets and go into debt in order to pay for burial services, AlSol decided to design a microinsurance product for this vulnerable population. In partnership with Zurich Insurance, it now offers $1,000 of life coverage for a $10 annual premium. The insurance company processes applications of groups of 125, and AlSol collects weekly premiums of 20 cents from its clients to pay for it.

The Local Enterprise Assistance Program (LEAP), Liberia
In an environment wracked with repeated outbreaks of violence, LEAP managed to build a client base of 4400 and a portfolio of $215,000. As the security situation improved, LEAP turned its attention from Monrovia to more distant market towns. CGAP funds were used to open two new branches in more rural areas of the country. Although conflict continues to flare up in the country, LEAP's chances for success are enhanced by its track record of recovering from past attacks.

Constanta Foundation (Constanta), Georgia (Web site available only in Georgian)
In order to increase its outreach beyond the urban poor with whom it had traditionally worked, Constanta developed a flexible lower-cost strategy based on a mobile team in satellite offices on certain days of the week. A partner bank is used to store and transfer funds for security reasons. Using the PPIC award to implement this methodology, Constanta successfully expanded access to credit for the rural poor.

Women Economic Empowerment Consort (WEEC), Kenya
WEEC used CGAP funds to expand its Pastoralist Group Credit Scheme, which provides financial services to semi-nomadic Maasai women, whose livelihood is based on their cattle herds. Credit is often made available in the form of cattle, for which WEEC negotiates bulk purchase deals and passes on the savings to clients. A link with a public program trains the women in caring for these new breeds that use limited pastures and have higher milk yields than nomadic breeds. Women make repayments from the sale of milk, excess livestock or handicrafts sold to tourists.

Youth Self Employment Program (YOSEFO), Tanzania
RRealizing that many clients had difficulty in repaying their loans towards the beginning of school terms, YOSEFO introduced a savings and loan product specifically for school tuition. Clients set aside weekly savings for their children before they start school, which the institution invests in risk-free investments such as treasury bills. Clients are also allowed to borrow for school fees, and repayments are made along with repayments of general loans.