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Village Bank in Lao PDR. Village banking is a microcredit and saving methodology whereby financial services are administered locally in a community bank rather than in a centralized commercial bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs.
Community banking is a form of empowerment-based economics which falls under the larger umbrella of micro-finance.Micro-finance as a whole is focused on the entrepreneurship of individuals, generally with a goal of lifting low-income or disadvantaged groups out of poverty and providing the means for them to prosper. [3]
A Revolving Loan Fund (RLF) is a source of money from which loans are made for multiple small business development projects. Revolving loan funds share many characteristics with microcredit, micro-enterprise, and village banking, namely providing loans to persons or groups of people that do not qualify for traditional financial services or are otherwise viewed as being high risk. [1]
Solidarity lending involves collateral-free loans through solidarity groups and village organizations like this one in Bangladesh. Solidarity lending is a lending practice where small groups borrow collectively and group members encourage one another to repay. It is an important building block of microfinance.
A few of the existing products include eMoneyPool, created by two brothers living in Phoenix, Arizona; Monk, founded by ex-Google and ex-Intel employees in Silicon Valley; Puddle, a Google-venture backed startup, Moneyfellows UK & African based online mobile and web platform digitizing the ROSCA model; ROSCA Finance, a patent pending startup ...
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After 6 hours he arrived in the town with three 10-ton trucks full of food, water, blankets and other means of survival. In the following days, he organized the next deliveries, and temporary housing for the population and, along with other volunteers in the movement, helped clean up and reorganize the town after the tragedy.