ECLOF Colombia partners with CMMC, ODAFE, and ECONEXUS on a pilot project
On April 15, ECLOF Colombia participated in the presentation of the results of the “Pilot project on social entrepreneurial strengthening and financial education for populations under extreme economic poverty” at the Galerías Hall of the Cundinamarca Governorship.
This project was directed at 40 people, 95% of whom were women and mothers financially responsible for their entire households, working on manufacturing clothing, and living under conditions of extreme vulnerability. The project was carried out in the Ciudad Bolívar sector of Bogotá, D.C. by the Colombia’s Women’s World Corporation [la Corporación Mundial de la Mujer Colombia (CMMC)] in partnership with the Organization for Family and Entrepreneurial Assistance [la Organización de Atención Familiar y Empresarial (ODAFE)], and ECLOF Colombia.
The first phase of the project was completed successfully in April. ECLOF Colombia notably offered financial education to the participants to ensure that they’d be fully equipped to make the most of the opportunity given to them by CMMC in manufacturing and selling clothes at a higher business level. The results were actually so rewarding that a second phase has already been planned.
At this stage, CMMC, ODAFE, and ECLOF will facilitate the opening of local markets and thus increase the sustainability of the sales of products manufactured by the participants and so guarantee the success of their entrepreneurial life. CMMC has also secured the support of the ECONEXUS Foundation to train the participants in making merchandising and sales projections. Finally, ECLOF Colombia will again enter the scene by granting equitable loans to the participants to purchase sewing machines and raw materials.
By working together, CMMC, OADFE, ECLOF, and ECONEXUS are convinced that they’ll succeed in alleviating poverty, at least within this community.