From the nuns of Australia, a good practice of microfinance for vulnerable women
For more than 40 years, Australian sisters have been engaged in the ‘Interest-Free Loans’ initiative in response to ‘an emerging need in an urban environment where women were finding it increasingly difficult to cope with the high cost of living’ that forced them to forego essential goods and services or take out loans with interest rates so high that they were dragged into a dead-end debt spiral. (Source: www.olcgs.org).
FROM A BOLD APPROACH IN AUSTRALIA NUNS CREATE
LARGEST MICROFINANCE PROGRAMME TARGETING VULNERABLE WOMEN
‘Despite the contrary view of accountants on unsecured loans, the sisters asked the question: ‘what if it worked? Imagine the impact a system of Unsecured Loans could have on people’s lives.’
THANK YOU, AUSTRALIAN SISTERS FOR YOUR WITNESS OF FIDELITY TO THE SPIRITUAL AND APOSTOLIC HERITAGE OF SAINT MARY EUPHRASIA:
ZEAL FOR MISSION
ABILITY TO GRASP THE SIGNS OF THE TIMES
INNOVATION OF THE MOST EFFECTIVE RESPONSES
TO ACCOMPANY VULNERABLE WOMEN
IN THEIR RESILIENCE PROJECTS TO PROMOTE THEIR
DIGNITY RESPECT AND EMPOWERMENT IN SOLIDARITY
IN EVERY ERA AND CONTEXT OF LIFE.
