May 23, 2007
Micheleluce-Grameen Bank- Chiapas
This is a picture at the Grameen Bank branch in Teopisca, Chiapas. The Grameen Bank has been around in Mexico for quite a long time. Here, people come from neighbooring communities to apply to get the micro-credit loans.
The people of Teopisca expressed how beneficial the Grameen loans have been to their local businesses. If the loan is approved, the local artisans are able to invest in prime materials that they use to make their arts and crafts which they later sale in local markets. However, not only the Grameen Bank loan helps improve their businesses, but also time and effort that the artisan itself makes to sell its product.
We were explained that in case of problems with repaying or knowing how to invest in the loan, the Grameen Bank also provides workshops that guide people to a better economic future.
The Grameen Bank in Mexico already operates in several states including: Chiapas with 16 of 20 branches in the nation, Aguascalientes, and Tabasco. It has also been planned to expand to others states of Mexico and in the future operate in the entire nation.
Posted by Michelle at May 23, 2007 09:37 PM