TEST BANK For Essentials of Negotiation, 7th Edition by Roy Lewicki, Bruce Ba...
Microfinance: Interest to Action Part 4 of 5
1. 2014 ROTARY INTERNATIONAL CONVENTION
FINANCING A ROTARY
MICROFINANCE PROJECT
GORDON CRANN
IMMEDIATE PAST PRESIDENT OF THE
ROTARIAN ACTION GROUP FOR MICROFINANCE AND COMMUNITY DEVELOPMENT
AND
2009-14 DISTRICT 7070 INTERNATIONAL SERVICE CO-CHAIR
2. Step One:
A potential Host (local) Rotary Club sees
need for a microfinance program to serve
low income people in their community.
HOST CLUB IDENTIFIES NEED
3. Step Two:
Locate a Rotary Club in another country to
partner with the Host (local) club or District
in co-sponsoring a Global Grant project.
FIND INTERNATIONAL ROTARY CLUB PARTNER
4. Step Three:
Locate a local Microfinance Institution
(MFI) who is capable and willing to manage
the Rotary project on a day-to-day basis.
FIND LOCAL MICROFINANCE INSTITUTION (MFI)
5. Step Four:
Obtain certification from each Rotary
District for all participating Rotary Clubs to
qualify for managing funds provided by The
Rotary Foundation.
ALL PARTICIPATING CLUBS OBTAIN DISTRICT CERTIFICATION
6. Step Five:
Form a committee of three Rotarian
members from each sponsoring club or
District to organize and supervise the
microcredit project.
EACH SPONSORING CLUB FORMS SUPERVISORY COMMITTEE
7. Step Six:
Reach an agreement with the MFI and the
sponsor Rotary Clubs about the goals of the
project, its design, and the role of each
partner.
REACH AGREEMENT ON GOALS, DESIGN & ROLES
8. Step Seven:
Prepare a Memorandum of Understanding
(MOU) with the MFI that is selected to
operate the program. This is a standard form
provided by The Rotary Foundation.
PREPARE MEMORANDUM OF UNDERSTANDING WITH MFI
9. Step Eight:
Fill out the Global Grant Application
Supplement for Microcredit Projects. This
Rotary form describes specifically how the
micro loan portion of the project will be
operated. The MFI should provide most of
the information required for this form.
GLOBAL GRANT APPLICATION SUPPLEMENT FOR MICROCREDIT PROJECTS
10. Step Nine:
You will need to review how The Rotary
Foundation’s matching financing works for
Global Grant projects by reviewing the
information at: www.rotary.org/take-
action/apply-grants. The minimum size project
is $30,000, using 100% DDF financing for the
local share. Your grant request from The
Rotary Foundation must be for at least
$15,000.
FIGURE OUT HOW TO USE MATCHING GRANTS TO FINANCE YOUR PROJECT
11. Step Ten:
Complete the application for The Rotary
Foundation Global Grant on-line, through
Member Access on the Rotary website at
www.rotary.org. The International sponsor
club for the project may be able to take the lead
in filling out this form. The final financing for
the project will be shown at the end of the
Global Grant application form.
COMPLETE THE GLOBAL GRANT APPLICATION ONLINE
12. Step Eleven:
Establish a separate bank account to hold
the grant funds until they are needed by the
operating organization (MFI).
ESTABLISH SEPARATE BANK ACCOUNT
13. Step Twelve:
Sponsoring Host and International Clubs
need to raise the funding needed to match
The Rotary Foundation’s approved Global
Grant and District DDF.
RAISE FUNDS NEEDED FOR YOUR PROJECT
14. Step Thirteen:
Work closely with the MFI in carrying out
the project and monitoring the results.
WORK WITH MFI TO CARRY OUT AND MONITOR PROJECT RESULTS
15. Step Fourteen:
It is highly desirable for members of the
International Club to visit the Host Country
Club and MFI to establish personal
relationships with those involved.
INTERNATIONAL CLUB MEMBERS SHOULD VISIT HOST CLUB, MFI & PROJECT
16. Step Fifteen:
Host and International Sponsor Clubs, with
MFI’s assistance, complete final report on
the project and submit to The Rotary
Foundation.
COMPLETE & SUBMIT FINAL REPORT TO THE ROTARY FOUNDATION