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RICE BANK LOTUS
In collaboration with our partner Lotus, who is assisting READA in promoting the Rice Bank project to 3rd party donors, we are establishing village Rice Banks more communities.
For poor subsistence farmers the annual rice harvest is not enough to meet the family through the year. This situation creates chronic food insecurity which in turns leads to migration, children malnutrition and debt.
The concept behind the Rice Bank is to provide the community with a capital of rice available for the villagers to borrow at low interest rate and pay back year after year in accordance to the rice harvest cycle. The amount of rice which belongs to the community is stored in the village “rice store” and is managed by a rice bank committee (3 villagers) with the assistance of READA. Villagers agree on an interest rate which is use to increase the capital of rice year after year, provide a small remuneration for the committee and a small social protection assistance for the most vulnerable members of the community.
The strength of this initiative is that it tackles food insecurity and its consequences whilst strengthening the community.
Click here to access Lotus’ website