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New structures are striking roots in Cordova

Josefina-Padilla klSince our new partner SIGN Asia has taken over the responsibility for the entire project, we can trace first success stories. Josefina Padilla can be recognized as the first house owner who has fully repaid her loan within the last eleven years. Now she will focus on the renovation of her housing unit. Generally the repayment rate has more than doubled within the first quarter of 2014. Frande Guillera, who administrates the repayment funds, has expressed his intention to again double the monthly repayment rate by the end of this year.
Furthermore it became obvious that the idea of cooperative does not meet the expectations of the community and does not adequately respond to the actual situation of the poor. If their efforts are awarded properly, people receive a direct benefit from their participation and are more motivated to reasonably use the existing infrastructure for their families and for themselves. Therefore SIGN Asia is transforming the previous approach to one which supports micro entrepreneurs working on their own and applying their own rules. These entrepreneurs will pay Frande-Guillera klrent for the use of facilities in the community center such as the small shop and the dried fish production. The income of repayments for the housing units and the gains from the rent of facilities will be reinvested mainly into education and training – Kindergarten thru College. Hence the funding share of the fisher community for the educational activities will automatically increase.
The kindergarten has produced its first three graduates who were now able to join the education program "Step by Step" for their primary schooling. The three students have achieved an average of 85 percent in the obligatory screening test for public schools – the nationwide average is 75 percent. The good work in the kindergarten definitely improves the preconditions for the girls and boys: Education remains to be the best investment.