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Rotary International

District 6270

E-Club

The 4 Way Test

1. Is it the truth?
2. Is it fair to all concerned?
3. Will it build goodwill and better friendships?
4. Will it be beneficial to all concerned?

Irkutz Revolving Loan Fund

This project is focused on the Irkutsk area of Siberia, Russia. It is our belief that helping persons in the agricultural sector will help to stimulate and grow the Russian economy and educate farmers in improved farming and business management practices.

The Rotary Micro Loan Project provides economic assistance to Russian agriculture-related businesses with small financial needs. In many cases persons seeking financial support might not qualify for a loan, might not have collateral to secure a bank loan, or might need an amount of money smaller than what financial institutions handle. In fulfilling our motto of Service Above Self through this project, Rotarians hope to help bring better understanding and cooperation between the United States of American and Russia.

The project was initiated in 1998, when Fond du Lac Morning Rotary raised $5000 to establish this Rotary sponsored revolving loan fund in Siberia. Additional funds have been raised from other Rotary Clubs throughout Wisconsin. The Rotary Foundation of Rotary International provided a matching grant. The total revolving loan fund is now more than $30,000.

Each year, members of the Fond du Lac Morning Rotary travel to Irkutsk, Russia to administer the project. The Rotarians visit sites of persons who are seeking to become involved in the Rotary Micro-Loan Project. Small, short-term loans (6 months to one year) are made to participants that are approved and agree to the terms of the loan. Borrowers seek funding for projects that will help improve their businesses, for example: seed, additional land, new greenhouses, equipment, supplies or more livestock.

This project is unique in a number of ways. It is one of only three revolving loan projects in Russia sponsored by Rotary, and the only project making loans to farmers. Loans are structured so that groups of borrowers work together to support each other, and co-guarantee each other's loans. All loans have been 100% repaid.

The Fond du Lac Morning Rotary has been assisted by their partner club in Russia, the Irkutsk Rotary Club # 2, and the ARROW Foundation which is headquartered in Fond du Lac and has sponsored a variety of projects in Russia since 1992.