Financial Literacy and Entrepreneurship - Week 2: The goal for this week was to select a local charity, and international borrowers.
Finalists for local charity were the Fort McMurray fires, and the Port Moody Ecological Society. In the pre-debate vote, Fort Mc Murray led, with only 2 out of 9 voting for Port Moody Ecological Society (PMES). But the two voters were passionate, and managed to state their cases well. They argued that the fish hatchery deals with the salmon. If the salmon population dies out, then all of the living beings depending on the salmon will be affected. And thus, the impact of the donation to this society would have a wider benefit than helping with the Fort McMurray cause. The final vote, 7:2 for (PMES).
For one international recipient, the group selected a 37 year woman named Samol, from Cambodia. She has been involved as a dessert seller for nearly 10 years. Her husband is a construction worker. Both of them can earn a net profit of USD 10 per day. Nowadays, her family is living without toilet. In this case her family is forced to go to the forest. Through this loan she can build a latrine, and help her family members gain access to sanitation, promote their health, and help to lessen environmental deterioration. Wiith her current job, she will be able to pay back the loan.
Continuing on their 'water' theme, students selected Vor’s group (Cambodia) as the other recipient. Vor does work as farmer to support her family. In their village there is no reliable access to safe, clean drinking water. A $175 loan will build a water filter, which will help safeguard the health of the families living there, save money on medical expenses and save time collecting fuel and boiling water.