The Millennium Development Goals (MDGs) are eight international development goals that all 192 United Nations member states, and at least 23 international organizations have agreed to achieve by the year 2015.
Goal 1 – Eradicate extreme poverty and hunger
- MicroLoan targets the poorest women, (those in the rural areas), in the 8th poorest country in the world (Malawi).
- Profits made by our clients are used to provide extra food for their families
Goal 2 – Achieve universal primary education
- Profits made from our clients are often used to put children through education
Goal 3 – Promote gender equality and empower women
- We lend to women as experience has shown that the women are more likely to ensure profits made are used on their families
- Not only do microloans provide self employment for women, but sometimes others are employed as their businesses become established
- The development of micro businesses by these self motivated women helps build confidence of women
- Daughters, (possible leaders of the future), realise that they have more potential than simply child rearing and house management
- Men come to respect the contribution women can make as an additional bread winner
Goal 4 – Reduce child mortality
- Profits made from our clients are used to provide extra food, and pay for improved medical assistance
- Studies tend to show that as a family comes out of poverty, the number of additional children born is reduced
Goal 5 – Improve maternal health
- Again, profits made from our clients are used to provide extra food, and pay for improved medical assistance
Goal 6 – Combat HIV/AIDS, malaria and other diseases
- Malawi has a high rate of HIV
- Profits made from our clients are used to improve medical assistance, which includes HIV treatment and/or protection
- Extra money made from profits of micro businesses
- reduces the need for some women to resort to prostitution to raise money to look after their families, and
- reduces the need for the husband to seek work elsewhere, thereby reducing the temptation for infidelity, and spread of disease
Goal 7 – Ensure environmental sustainability
- Due to the small size of loans the environmental impact of the micro businesses set up is likely to be minimal
- Also, businesses will only flourish if there is a demand, so the efforts should be targeted where needed
Goal 8 – Develop a Global Partnership for Development
- Our development delivery is based on MicroLoan Australia working in partnership with locally run MLF Malawi
- Good governance is assured due to
- MLF Malawi being run by professionally qualified local nationals. Internal controls and procedures have been found to be extremely good
- Minimal possibility of government/NGO corruption by ??re-directing? aid. Loans are small and the money goes directly to the client.
Sustainable business model
In addition, it is worth remembering that our model is designed to be self sustainable in the long term, and the current 99% repayment rate means our micro loans keep on being recycled for many years to come, and will benefit many families in the future.