As part of our Microfinance project aimed at poverty eradication and empowerment, we acquired 6 loader rickshaws in February 2022.
Building on the success of this initiative, we expanded it in October 2022, providing an additional 11 rickshaws to those seeking livelihood opportunities. In January 2023, our ground partners procured a total of 13 rickshaws, including a 150cc loader rickshaw and an auto rickshaw for city travel. In April 2023 and December 2023, our ground partners were able to purchase 24 more rickshaws to support the members of our community bringing the overall count to 54 rickshaws.
Our primary objective is to offer struggling families a reliable source of income, facilitating the start of a new and prosperous life. This project specifically targets remote and underserved areas of Pakistan with a significant Shia population. Each beneficiary receives a new rickshaw at the cost of between $1200-$1450, repayable interest-free in monthly installments. This repayment model enables the recycling of funds to purchase additional rickshaws, extending support to more families in a short period.
WHAT DIFFERENCE HAS YOUR SUPPORT MADE?
Despite facing higher-than-anticipated market prices for loader rickshaws, ASB remained committed to staying within budget and aiding as many people as possible. To achieve this objective, ASB chose to procure the loaders directly from the company, securing a special discount.
Thanks to their dedicated efforts, we successfully distributed 54 loaders, Consequently, 54 families now benefit from a sustainable source of income through the provision of loaders.
CASE STUDIES
Names have been changed to protect beneficiary dignity.
Eighty percent of Hassan’s village follows the Wahabi faith, which, unfortunately, holds anti-Shia sentiments. Notably, Hassan’s family stands out as the sole Sayyid family in the entire village.
With seven daughters and an elderly mother in his care, Hassan, who had been managing his finances while working as a school teacher, faced significant challenges after his retirement. The pension amount he received was insufficient to meet the basic needs of his nine-member family, adding to the financial strain.
Concerned about how he would arrange funds to support his family, Hassan found a lifeline in WF-AID’s Microfinance Loader Rickshaw program. Through this initiative, Hassan received a loader rickshaw, enabling him to work within the village and repay the funds in interest-free, easy installments as he started earning.
Hassan expresses immense gratitude to WF-AID and its generous donors for providing crucial assistance during a challenging period. With this support, he can now provide for his family more comfortably.
Beneficiary receiving loader rickshaw.
FINANCIAL BREAKDOWN
*ASB received $16,470 from WF-AID and expended a total of $16,881.48, including a carried-forward balance of $409.41 from previous transactions.
*Due to a discounted rate, the ground partner successfully acquired 12 rickshaws instead of the initially planned 10.
COST
ASB received a total of $66,000 in four tranches of $16,500 each. With the inflation rate in Pakistan causing an increase in the cost of one rickshaw over each subsequent payment, our ground partners managed to acquire a total of 54 rickshaws, surpassing the initial target of 50, despite the escalating prices in the market.
Beneficiary receiving loader rickshaws from TWF President and Vice President.
SUMMARY
The loader rickshaw project aimed to create a sustainable income generation scheme through the provision of rickshaws to deserving families. The initiative, fueled by the generous support of the Mohsin and Fauzia Jaffer Foundation USA, unfolded over several tranches, ultimately leaving a lasting impact on the community.
From the initial tranche in October 2022 to the final one in December 2023, our ground partners, with the unwavering support of WF-AID, succeeded in purchasing a total of 54 rickshaws. This achievement translates into 54 families gaining the means to become economically independent and secure their livelihoods. The project, however, goes beyond a one-time assistance program. An innovative interest-free instalment system has been integrated into the scheme, requiring beneficiaries to contribute monthly payments.
These funds will be pooled to procure a new rickshaw each month, ensuring a perpetuating cycle of support for community members. In expressing gratitude, WF-AID extends heartfelt thanks to the Mohsin and Fauzia Jaffer Foundation USA for their generous contribution. Their support has not only facilitated the purchase of rickshaws but has sowed the seeds of enduring change, fostering a self-sustaining community for years to come.