The focus of my time in Guatemala City, is the implementation of a pilot microfinance initiative in partnership with a nonprofit Lemonade International. Microfinance is the world renowned concept of investing small loans in grassroots entrepreneurial efforts in the name of eradicating world-wide poverty. We will be working in the urban slum community of La Limonada, known for it's high murder rate and lack of basic resources. Home to over 60,000 people, La Limonada is plagued by a sub-culture of extreme poverty and social barriers to Guatemalan society on the whole.

Sunday, July 11, 2010

Although today only marks the third morning of my five week stay in Guatemala, it feels as if I've been here for much longer. My host parents, Gustavo and Teresita, are extremely kind and loving. Besides taking us out to watch World Cup matches and feeding us excellent homemade food (caramelized plantains, yumm!) they also keep a gorgeous home. Nestled in a suburban community, the house, with its brick walls and arching doorways is more reminiscent of the older Spanish architecture found in Antigua.
So far, we have spent most of our time split between visiting local city haunts and discussing/researching more of the nitty-gritty aspects of the implementation of our project. We had the chance to meet with Nestor, who will act as our main loan officer and is currently being trained by the local MFI, Fundacion Micros. It was reassuring to hear Nestor's personal investment and that potential women borrowers have already been identified. At the same time, our meeting raised new issues from the need for a survey of collateral to the dependency created by sweat equity. Being here has made me realize the large amount of time I normally spend thinking of trivial things like lunch plans when there are real pressing problems on which I could be constantly ruminating. For example, how can one aim to redraw loan terms for a borrower unable to make weekly payments while ensuring she remains an integral part of a five person borrower group?
On Friday night, Sofia (a UNC international student from Guatemala) took us out to a local club which was something out of a MTV music video, equipped with live music performed by a finalist from Latin American Idol. What was most interesting was seeing Sofia's friends reactions to our working in La Limonada. Although having known of the slum area most of their lives, none had ever imagined working there themselves. It was eye opening to gauge the true social disparity existing withing this otherwise metropolitan city. Come Monday we will venture into La Limonada for the first time, and I look forward to updating soon! Please comment or email me at slmendu@gmail.com

Mucho Amor,
Sarika


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1 comment:

  1. vuongstaaJuly 11, 2010 at 9:20 PM

    AHHH!! "high murder rate"?!?! BE CAREFUL OUT THERE! I need you back here in one piece! and I know you're doing great things! :) <3

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