Microfinance Consultant Monica Rogers-Fletcher, based in Trinidad and Tobago engaged a Team of Consultants from Dominica and Guyana to develop a Gender Based Micro Financing Mechanism as a key product for the UNDP/IICA project, Strengthening Disaster Management Capacity of Women in the Commonwealth of Dominica.
This project is expected to attract new levels of interest from rural women in the agriculture sector to engage and invest in productive activities and alternative livelihoods.
On 24 February 2021 a virtual National Stakeholders Consultation was held to allow the Consultant and her Team to present their findings under that activity.
The structure and features of the micro finance mechanism were informed by a robust Situational Analysis undertaken by the team of National Consultants assisted by the financial and non-financial institutions, the farmers of the targeted Parishes of St Patrick, St Paul and St David and the Extension Services of the Ministry of Agriculture.
The Team analyzed the information obtained from the interviews and discussions held with the farmers and other stakeholders to develop a strategic approach to the Mechanism. The overall goal is the Reduction of the Vulnerable Communities and Groups, in particular women, to the socio-economic impact of natural disaster linked to climate variability and climate changes supported by three key strategic objectives: a) To improve access at the national and community levels, to relevant knowledge and information on Disaster Risk reduction, Adaptation and Mitigation Measures; b) To enhance capacity and opportunities for socio-economic development and income generation for vulnerable communities, women and producer groups; and c) To develop appropriate and relevant gender related Institutional Policy Framework, Procedures and Implementation Systems
The Micro Finance Mechanism therefore rests on the foundation of these strong pillars, and provides a holistic stakeholder supported approach to financing. These include a number of incentives such as Personal Development including coaching and mentoring, Technical, Finance and Business Development, cash-based Savings Incentives and Fallback mechanisms in the event of climate based natural disasters, Peer and Group support and the institution of gender policies and procedures within the financing and collaborating institutions.
Key and innovative features of the Mechanism will support loans to women, including the Kalinago and women’s groups. These include its attractive interest rate, the unique blend of loan and grant funds to support investment in agricultural projects as well as the creation of an interest yielding investment fund to be used as collateral and toa fallback position in the event of disaster. The innovative parametric insurance which will be included as a feature of the mechanism will effectively address the risks associated with the impact of hurricanes, and further enhance the fallback position of the women in the event of disaster.
The strategy also proposes an implementation process which incorporates stakeholder consultations for validation of the micro finance mechanism, further discussions with the financing and collaborating institutions to evaluate and support their readiness for the strategy and the need for capacity building. These will enable the completion of an implementation plan for a pilot of the mechanism.
Is this perhaps just another word for treating? I mean how many unsecured loans are actually repaid in particular by DLP supporters. Aid Bank and NBD just get a call to tell them to write it off. I mean who wants to upset someone that’s a voter for Skerrit and his party????
Men/Boys/Males pay attention. The entire world is invested in empowering women and ‘dis-powering’ men by default.
Men/Boys/Males, if you don’t figure out how to become wealthy/billionaires/earn significant money, families will become obsolete. You will struggle to attract a female who has more resources than you.
By nature, women do not respect men who they out earn.
You will either have to migrate to a different culture, or stay single for life.
Study/figure out how to make real money or resign your self to a future of insignificance!
Women again geting more help. What about our young men that have been left by the wayside? At what point will we realize that we are creating a huge problem and hurting our development? Our young men and boys cannot continue to be forgotten. there must be opportuities and funding made available to them also. While i support that women need help, particullarly in the most rual area, our young men have gravitated towards the block and gangster lifestyle instead of seeking tertiary education and creating better lives for themselves and communities. All over Dominica you see our young men lazing about. when will the other side of the coin be addressed
OMG, what gobbledygook. Worthy project but I wonder who is the intended target of this piece. This writing style should be shelved and replaced with plain language that everyone can understand. Is this to be placed in a cabinet at the UNDP so that those who actually “do” things can refer to and break it down from time to time? Asking… for a friend. Lol