The Republic of Lavalon has contributed to two new microfinance loans through the international microfinance charity Kiva. The Republic of Lavalon wishes the
Mjimwema Group of Tanzania and the
Serenidad Group of Paraguay all the best in their respective business endeavours.
The value of all microfinance loans made by the Republic of Lavalon now stands at $150. Thus far there have been no defaults on Lavalonian loans, all creditors have met their repayment schedules, and one creditor was even able to pay off a loan early.
As part of our belief that economic empowerment is the key to addressing gender inequality, all Lavalonian microfinance loans have been made to groups of women. 33% of Lavalonian loans have supported business in services sector, 33% in the retail sector, 16.7% have supported food and catering businesses, and 16.7% have been to businesses in the arts and crafts sector.
A full two thirds of our loans have been to businesses in Latin America, and the remaining third have been to businesses in Africa. It is our ongoing policy to direct our support to areas of the world that have been most affected by the legacy of European colonialism and United States imperialism.
