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- Starting with education as its #1 priority, KEF subsequently became aware of the importance of the economic development of the eight villages served by the Kasimu School. KEF has funded the organization of a microloan program (note 1 on NEXT page) to improve the economy of the eight villages; a program patterned after the Grameen Bank system founded by Nobel Prize winner Muhammad Yunus.
- A young man (a graduate of Kasimu School, with a Marketing Diploma from a two-year college) has been hired and trained by FINCA (see note 2 on NEXT page) to organize and manage this program as the Micro-finance Administrator.
- Eleven micro-loan clubs were organized which included 195 potential borrowers. Three clubs with 35 borrowers were funded to start small businesses through a $1,900 grant. Phase 2 of the program will fund an additional three clubs with 86 small businesses in 2009.
- Micro-loans were also provided as farm subsidies for 218 farmers to purchase seed and fertilizer in 2008 to establish a program for the sustainable production of maize.
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