Programs / Microfinance / Communities / Arimae «

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About Arimae

Arimae is a community of about 108 homes and 552 inhabitants.

Located in the district of Chepigal along the Pan American highway in the

Darién province, Arimae is an Embera community. The Embera people are one

of the largest indigenous groups in Panama and Colombia. Arimae partakes in

various economic activities.  As a farming community, there are various 1-20

acre plots of land in which community members plant rice, plantains, yucca,

and fruit for their own consumption as well as to sell to intermediaries.

Microenterprises withint the comminity include kiosks and hostels, as well as

an established artisan group. Though Arimae has worked with Global Brigades

for years, Business Brigades brought it's first volunteers in March 2014.

Working in collaboration with the GB Business and Microfinance team, Arimae

was able to establish their own community bank in March of 2014.

 

 

Arimae's Economic Challenge

Community members in Arimae lack access to financial resources within the

community. The majority of community members do not have bank accounts

and there is only limited informal forms of credit available.  For example, a person could obtain ‘credit’ at a local store by buying something now and paying later, simply adding it to their ‘tab,’ but there would be no formalized

credit transaction.  Larger financial institutions do not approve loans to community members without a fixed income, making it difficult for local microenterprises to grow and thrive. Most community members cite the distance to the nearest bank as the main discouragement to having a personal savings account. In order to gain access, members must travel to Santa Fe, a 30-minute bus ride, and some community members even have an account in the National Bank in Metetí, which is over 45 minutes away. Even if individuals wish to travel the distance, not all community members can become members of these financial institutions--cooperatives require monthly membership fees, savings accounts often require a fixed income, and cost of travel and the lack of land titles as an indigenous community provide additional barriers. 

 

 

Microfinance in Arimae

Through Global Brigades Business and Microfinance initiatives, Arimae established their first community bank in March of 2014. With the opening of the community bank, community members have access to credit and savings accounts for the first time. Further, with access to savings, families can start to adequately prepare for the future, rather than hiding extra money in their beds, or not saving at all.

 

With the strong relationship developed in partnership with Global Brigades as a Holistic Community, Arimae looks to receive financial training and business consulting to expand and improve its local microenterprises.

 

One of the cornerstones for the success of future projects is the sustainable nature of a community bank: investments are approved through loans granted to community projects; interest is then paid back on the loans—both large and small—and 100% of profits stay in the community, enabling the funding of more loans for more projects in the community. Capitalization of the cooperative is directly linked to the development of Arimae; the growth and success of their community bank means growth and success for the community.

 

Click here to access the Business Profiles for this community.

 

Microfinance Brigades Chapters that Worked in Arimae
Microfinance Brigades Chapter	Month	Volunteers
UIUC	January 2015	15

 

Current Status

Last Visit: October 2014

The Microfinance team established Arimae's community bank and has been following up with community meetings.  The Arimae Community Bank board members also participated in Global Brigades' Microfinace Retreat from November 14-16 in Panama City!

 

Visit Other Programs in Arimae

Global Brigades strives to implement a model of Holistic Development in communities through a system of collectively implementing health, economic, and education initiatives to strategically meet a community's development goals. Learn more about the other programs being implemented in Arimae:

Business  Dental  Environmental  Human Rights  Medical   Public Health