Voluntary gifts designated for the Bakwé micro-project fund are collected with an initial target of around $5,000 (sufficient to launch 5 or more micro-projects.
The 10 seminar participants will initially be invited to submit their proposals in accordance with the directions and guidance laid out during the seminar. These will be very simple submissions containing the essential building blocks needed to determine feasibility but without having the analysis fully completed.
The proposals are then submitted and subjected to a feasibility analysis by Christophersen and Leidenfrost who will recommend for or against, or send the proposals back for additional elaboration before approval can be given.
Continued Funding and Monitoring
On the Ivorian side, the individual project funding will be loans, not grants. The loans, however, have far better repayment terms than what can be obtained locally. Instead of 6 months at 18%, the terms offered are 7% repayable over two years. This very significant difference in the repayment terms will be a major catalyst for launching feasible micro-projects that could significantly increase household incomes.
As loans are repaid (interest and principal), the local fund will grow over time to provide opportunity for others to submit their proposals. Ideally, the number of approved feasible micro-projects will increase over time. Successfully implemented projects will lead to others where successful participants become ‘mentors’ for new participants.