AGM: Anne Wright - Microfinancing

President Sandy Bannerman welcomed a good turnout of members at last week's meeting of the Rotary club when the annual general meeting took place which was held to be satisfactory by the members.  He then introduced Past President Anne Wright, Kelso Rotary Club who explained the workings of a scheme she was involved in  which helps finance small businesses in the Third World.  The micro-finance project lends money in mutiples of £15 to assist enterpeneurs in various countries to start up small businesses to help them become self sufficient and support themselves and their families.  The money is repaid monthly and in the years it has been running no defaulters or bad payers have been found which means the loan scheme can be expanded as trust is all-important.  The money can be used for anything and she gave as examples providing a sewing machine to help someone make goods to sell  or even buy a breeding animal to start a small holding.  The Rotary club, a group of members or even an individual can agree to become a lender and the money can be repaid at any time.  Many questions arose from her talk after which Vice President Mairhi Trickett gave the vote of thanks.  The profits from the coffee morning on Saturday, 23rd May are going to the Earthquake Appeal Fund, Nepal.