Programs / Microfinance / Communities / Ipeti Embera «

About Ipeti Embera

Located near Torti in eastern Panama, Ipeti Embera is an indigenous Embera

community with a population of about 700. The community of Ipeti Embera is

well organized and has many established committees and organizations within

the village. The most common income generating activities are agriculture and

making artisanal crafts. There are two separately functioning artisan groups that

are integral to generating income, as they participate in tourism initiatives which

serves as a market for selling their goods. Additionally, the main crops

produced in Ipeti Embera are corn, rice, plantains, and yucca and there are six

small kiosks in the town.

Ipeti Embera's Economic Challenge

Community members in Ipeti Embera have not had access to financial

resources within the community until recently. In order to gain access, members
had to travel to Tortí, a 30-minute bus ride, however not all community members
can become members of the savings and loan cooperative in Tortí. Cooperatives
require monthly membership fees, and coupled with the cost of travel and
the lack of land titles as an indigenous community, less than 5% of community members are part of the cooperative, and 100% of the community has never accessed a loan from Tortí. Larger financial institutions, which are inaccessible due to distance and cost, do not approve loans to community members without a fixed income, making it very difficult for local microenterprises to grow and thrive.

Microfinance in Ipeti Embera

Through Global Brigades Business and Microfinance initiatives, Ipeti Embera can recieve proper training on bookkeeping and administration best practices. Additionally, GBB has worked in conjuction with the second artisanal group to establish a community bank. With both the coop and opening of the community bank, community members have access to credit for the first time, and access to a savings account for the first time. Further, with access to savings, families for the first time can have preparation 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, Ipeti Embera 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 Piriatí Embera; the growth and success of their community bank means growth and success for the community.

Microfinance Brigades Chapters that Worked in Ipeti Embera
Microfinance Brigades Chapter	Month	Volunteers
Dublin City University	March 2015	12

Current Status

Last Visit: May 28, 2014

The Business team delivered Ipeti Embera's first capitalization check for its community bank! The check for $260 matches the first round of seed-capital raised by the community bank members. Within the bank's first month of operation, the community bank member's have saved $1,345!