ECOLES DE LA TERRE - EARNING FOR EDUCATION (version in english)

THANKS TO VISIT THIS PROGRAM IN "www.ecolesdelaterre.ch" - THE CHAPTERS OF EDLT FINANCE : MICROCREDIT and MICROCREDIT PLATFORM !



ECOLES DE LA TERRE "Micro Credit Program" earned Rs.13.29 lakhs (***) as the end of March 2012 as interest income in course of last two years. The driving force behind setting up micro credit operation was to make school have their own source of funding. We are happy to say that objective has been totally successful.



Now from July 2012, EDLT Geneva would be distributing micro credit income to schools in a phased manner. Within March 2013 the entire accumulated income would be distributed. EDLT micro interest income would be around Rs.10 lakhs in the minimum for the current year (April 2012-March 2013). Current year income will be distributed to schools in the year 2012-13. This cycle will go on and on in future.



EDLT micro credit in a sense is unique experiment of using micro credit not only for poverty management but also for earning education. The parent of school children are participating in micro credit and it is their interest payment that is now financing schools. All of them repaid capital they borrowed and interest 100 per cent. EDLT staff worked hard without taking any remuneration from micro credit income. And all this efforts are for the single objective of making schools less dependent on outside financial help.



EDLT donors may appreciate the good work and sacrifice made by the poor parents of the school children in making the school earn money. Donors may come forward few steps more and decide to contribute to micro credit fund as much fund as the parents are contributing each year. They may contribute fund matching with the micro credit income that is generated each year. One effect of such contribution would be encouragement to the poor parent. The other more importantly, all matching contribution will be invested in micro credit capital which will give rise to even more income and eventually a day will come when schools will not require any outside fund.



By Dr Pradip Har - Creditwatch Financial Consultant - Kolkata - India

For Ecoles de la Terre - Geneva - Switzerland

(***) 1'329'000 Indian Rupees (one million three hundred twenty nine thousand Indian Rupees) - about 25'000 Swiss Francs (twenty five thousand Swiss Francs)