Economic Development 2
Creating partnerships to bring much needed resources while producing long-lasting transformation
Partnerships that change a community
Many rural communities face a harsh reality: There are just not enough resources available locally to effect true change and growth. In addition, family budgets are always under pressure to make ends meet, leaving no room for entrepreneurship and, most of the times, to even dream about it.
In response, since 2016 MDM has been working with over 200 families, establishing 16 Saving Groups in 4 years; teaching them how to organize both, the participants and the finances; building trust among them; helping them envision what can be achieved and how their savings can be a starting point to change.
Furthermore, our plan includes supporting those who dare to dream and seek to grow their own businesses, by providing them with opportunities to develop their trade and business skills through workshops, a trade school, and a local marketplace.
3
first saving groups started in 2016
12
active groups in 6 villages
200+
families have participated in saving groups
3
students in trade school in Tegucigalpa
The Saving groups model
Our goal with Saving groups is to teach the locals how to manage finances, as individuals and as partners. Participating in a saving group teaches them how they can generate capital for future projects in their households, like painting walls, acquiring furniture or appliances, repairing a fence, and other things of the like.
But this has been just the beginning. Now that they have learned they can do and achieve more, it’s time for them to take the next step.
They can now discover how to develop credit and financial products at the service of the community to support local projects and businesses, to help the local economy grow and expand.
Developing trade
No matter where you are, it takes courage and a lot of work to build a business from the ground up. MDM recognizes the bravery of those who do it in a place like San Matías, where the economy and the lack of resources are major barriers to almost everyone and every project.
Our plan is integrated with our Education Program. It focuses on providing community members with training and opportunities to develop business skills, as well as their trade.
The goal: Make the local economy grow.
We have identified two ways to achieve that goal:
Trade school
The trade school will equip local students with knowledge and practical experience.
Local marketplace
A local marketplace will provide a platform to sell goods and services.
Future projects
Formalize Saving Groups
Bring guidance to mature saving groups on how to evolve into credit and financial services providers.
Trade school
Establish a local school for students to learn trades and develop business skills.
Local marketplace
Identify and rent a piece of land where to build shops and stands.
Testimonials
Spur economic development in the San Matías area:
Become a partner
Partner with us in bringing economic development to San Matías communities with your monthly giving or a one-time donation.
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