Taung Kone (A, B) Village Group
Taung Kone (A, B) Village Group’s story
Included in the picture are Thaung, San, Yu, Hnin and San L from Taung Kone (A,B) Village Group of Kun Yangone township. Taung Kone (A,B) village group has 17 loan customers out of 846 households. As this region is in the delta area of Myanmar, people mostly focus on fishery businesses, agriculture, animal husbandry (specifically with ducks and pigs) for their living and also some work as general workers in the nearby villages.
The man wearing a hat in the picture is Thaung who is 61 years old. He is the featured borrower who represents the other loan customers of the group. He is married and lives with his three beloved family members. In past years, duck raising, the business that has been running for generations, was the major source of business for Thaung’s family. However, as every day goes by, the household expenditures keep rising. In order to meet these needs, fishing and working as a general worker have become Thaung’s secondary income. His wife takes care of duck breeding in addition to her household chores.
This loan from Kiva will be be used to purchase more ducklings, duck feed and vitamins to increase duck production, thereby increasing their income enough to support their children’s school fees as well as to expand their business.
This loan is special because:
More about this loan
CBOs also play a key role in providing access to microcredit. In this model, CBO committee members support Proximity loan officers throughout the entire loan cycle. They assist in selecting village borrowers and also act as formal representatives during loan disbursement, collection of repayments and other communications. CBO committee members appear in Kiva profiles – often alongside village borrowers – as representatives of the community.
Since families rely heavily on income from farming to support their livelihoods, these loans are structured with a single bullet repayment at the end of the loan term. The timing aligns with expected harvest season when borrowers will be able to repay. All community members who receive financing through the CBO model must repay their portion of the loan before a village will be eligible to receive new funding.
About Proximity Designs:
Proximity Designs is a non-profit social enterprise that offers loan products to help small, low income farmers increase their productivity and income. There are around 12 million farmers in Myanmar who make up more than a third of the labor force. The majority of these farmers have virtually no access to formal credit institutions.
In the absence of other financing opportunities, most small farmers in Myanmar are unable to afford the equipment, material, and labor necessary to grow their crops without the help of Proximity Designs. Kiva funding will be used to help Proximity Designs expand its agricultural microfinance operation and reach more low income, rural farmers.