Let me introduce you to Carmen, Maria and Lina, from the group “Siempre 10 Al Progreso”. They live in the same neighbourhood in Lima, Peru’s capital, so they have known each other for a long time. But since 2008 they share more than their neighbourhood: they belong to the same “alcancía comunal”.
An “alcancía comunal”, sometimes referred to as a communal bank, is a self-organized group of borrowers who guarantee each other’s loans. Most of the loans at Edaprospo, the organization where I am placed, are...Continue Reading >>