THE Wildhearts charity is to receive a £300 boost from Kirriemuir Rotary Club – thanks to the efforts of Rotarian Jim Grant.
Over the last two years Jim has taken part in the annual Wolftrek Challenge which is a 40-mile overnight trek to raise funds for WildHearts.
He is pictured receiving a cheque for £300 from George Currie, who was the Rotary Club’s convener of the international committee.
WildHearts is a charity which provides micro-loans to third world countries.
Part of the global micro-finance revolution, WildHearts provides banking to the unbanked, the excluded and the down trodden enabling them to work their own way out of poverty with dignity and self respect.
How does this work? A group of 25-40 people come together to form a WildHearts Trust Bank.
In the spirit of solidarity they guarantee each other’s loans.
Micro-finance turns conventional banking on its head by giving loans to the people in poverty who have no security or formal ID.
Its genius is that it capitalises the resources that the poor have in abundance; self-reliance, inter-dependence and trust.
The results speak for themselves.
In all locations over all time periods 98% of the recipients of micro-finance have repaid their loans WildHearts believes that the world’s poorest people are the safest people to lend to.
WildHearts micro-loans are repaid and recycled every four months enabling WildHearts to multiply the impact of its initial investment.
This means that an average loan of £150 will actually fund three businesses a year.
Furthermore, statistics show that one loan actually transforms the lives of seven people as the recipient will be able improve the lives of their families and employ staff.
As a result one WildHearts micro-loan actually transforms 21 lives every year and will continue to do so into perpetuity.