So what’s involved in helping Matt in Uganda? The most important thing is making sure I do this in a way that’s both transparent and has the consent of those who have donated money to this project. In order for Matt to help these 187 grandmothers, he will need a total of $500 US Dollars – that’s the total amount needed after all the transfer fees, PayPal fees, and conversion fees are done with.
There is enough donated funds to meet this need. But this operation may not be what some of the donors signed up for. So, over the next couple of days, I am going to try and contact a few donors to see if they would be interested in letting me divert some or all of their donations to Matt’s project in Uganda. This is also the first time in this project we will be doing something called microfinance.
Dealing with other people’s money has brought out the control-freak in me. I admit – I really gave Matt a hard time on this one. Here’s some of the details/requirements I got Matt to agree to as part of this Uncultured Project funded microfinance operation:
- The microfinance operation will be managed, operated, and supervised by a government-registered NGO (in this case OGLM).
- The recipients will – under no circumstances – be pressured, forced, or coerced to repay these loans. They repay them as they are able and at a pace they set.
- The first time this money is used, it will be given to the recipients as an interest-free loan.
- Upon repayment, this money will subsequently be loaned at an interest rate that is based on the rate of inflation.
While the first two points were always part of Matt’s plan, the later two were things I insisted upon. It actually took a bit of creative account on Matt’s part to agree to these conditions. But, at the end of the day, the 187 grandmothers will receive $500 worth of assistance through microfinance. In turn, these grandmothers will have to repay $500 – and not a cent more.
So between now and when Matt distributes these $500 worth of farming equipment and livestock, I’m going to have to get in contact with enough donors to pull together $500. If you are someone who has donated and think this is something you’d like to help with – let me know. You can email me at firstname.lastname@example.org.
Don’t get me wrong – I’m not saying this as an appeal for more donations. There is already enough funds to do this – I am just not sure which donors would be comfortable (or uncomfortable) with such an operation.