Rose Micro-Credit has been in operation for three years and has successfully grown to include 1000 members in 10 communities around the township of Kalmunai, on the east coast of Sri Lanka.
It's goal is to raise $CDN1m by 2010 and put this effectively to use in needy communities around Sri Lanka, all affected by the tsunami and civil war, and then to other parts of Asia where Rose Charities already has a presence.
Our experience & research has shown us that communities with 1000 active micro-credit members are able to operate its project at a sustainable level, while communities of 10,000 active micro-credit members are able to create enough surpluses that they are able to support other community needs such as education, skills training, health & welfare initiatives, so much so that they may no longer require outside support.
Rose Micro-Credit's aim is to create self sufficient communities able to operate their own community bank or credit union and Kalmunai is on course to reach this by 2014.
Rose Micro-Credit was founded by Rose Charities Canada which is based in Vancouver, BC. RCC initiated relief and community projects in Kalmunai immediately following the tsunami in 2004, offering emergency relief to refugee camps and establishing a specialised children's ward at Kalmauni Hospital. Services were added to provide trauma counselling and counselling training, education and 'sports for peace' for children, university scholarships, skills training and English programs over the last three years and most continue today. Rose Micro-Credit is one of them.
As a result Rose Charities is well entrenched & respected in this community as it provides support at many levels to families: health, education and economic development.
Rose Charities Canada supports community-based projects in eight other developing countries.
Rose Charities has received funding and support from such organizations as the Government of Canada (through its CIDA projects), Global Agents for Change, Shaughnessy Heights United Church, The Ron Burkle Foundation & Drew Katz's Infinite Possibilities Foundation in the USA, Vancouver's Gordon Keep. Very recently it has become a partner of a major Swiss philanthropic organization for its child development, education and its womens education and empowerment programs.
Rose Charities Canada is part of a larger international network of over 16 countries that is based on providing mostly medical & emergency relief support. www.RoseCharities.org
For future financial and news updates please go to our website at www.rosemicrocredit.org
Growth rates should continue with funding from the Vancouver Board of Trade bringing membership numbers to a sustainable 1000 by year end.
Substantial funding to other related Rose Charity projects in Kalmunai means that some expenses can be shared, creating greater disbursement for loans.
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