Description of Microfinance Work
- Providing financial services such as loans, insurance, and training to people living in poverty
Some typical duties may include:
- Attending weekly and monthly meetings of the local community groups
- Facilitating the training, monitoring, and evaluation
- Be in constant touch with the Field Officer who is the manager of the group(s)
- Assisting the field officers in their work of helping the groups with the financial contributions as stipulated in their group constitution and money lending to members
- Checking on the eligibility of members seeking loans from the local groups
- Writing weekly and monthly reports about the financial flows of the groups
- Assisting in any legal requirement in case of a default by any member
- Working with the group secretaries for any letters or documents needed by the groups
- Helping in project proposal writing to potential donors around the world
- Assisting the community to initiate income generating projects for sustainable development
The microfinance placements for international volunteers and interns are available within local community groups in developing nations. You will need to have a strong interest to work in microfinance and be open-minded enough to work in a foreign country.
By doing Microfinancing work with the local community groups, you are working on getting small loans for people in poverty and help them with income generating activities. It is widely recognized as a just and sustainable solution in alleviating global poverty. It has created great success stories in developing world in the last few decades. Microfinance can help create a world where the under-served communities have fair access to economic opportunities and the hope to move beyond poverty.
There are great learning opportunities working in Microfinance, especially for these majoring in Finance or Economics. Our international Microfinancing programs have been accepted by some universities for internship credits or co-op credits. They may also be eligible for award or scholarship opportunities at your local school.