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Peaks & Valle (Ex Major Leaguer starts microloan program in DR)
New York Daily News ^ | 12/12/2004 | Wayne Coffey

Posted on 12/12/2004 2:03:49 PM PST by 4.1O dana super trac pak

CONSUELO,D.R. - It's late afternoon in a neighborhood called El Cachipero, in Sammy Sosa's hometown. Gisiene Salamon is behind the counter at her place of business, 12 square feet of beaten-up boards topped by a rusted tin roof. She is wearing a frayed flowered house dress and a comb in her hair. Two half-clad toddlers are clamped around her ankles.

On the shelves behind Salamon are 21 eggs that she sells individually, a few canned goods and bags of snacks. Hanging in front are four bags of rolls. The neighborhood gets its name from the ashes that spew from nearby sugar mills. It is one of the poorest parts of the country, at the end of a rutted dirt road that never sees cars, only destitute people in desperate circumstances, living without water or electricity, a colony of the forgotten an hour east of Santo Domingo.

Salamon, a 34-year-old Haitian-Dominican, cannot read or write. She began her mini-bodega 3 months ago, with a 1,500 peso ($55) loan that traces its roots to Bangledesh and Bayside, Queens, and to a former big-league ballplayer with a long memory and big plans. Salamon makes payments of 138 pesos, about $5, every two weeks. She hasn't missed one yet. She clears $25 in a good month. It may not seem like much, but don't try to convince her of that.

"It has given us hope for the future," Gisele Salamon says.

(Excerpt) Read more at nydailynews.com ...


TOPICS: Business/Economy; News/Current Events; US: Washington
KEYWORDS: microloans; sports
Long article about ex-catcher Dave Valle, and a microloan program he started.

Much better than foreign aid.

1 posted on 12/12/2004 2:03:49 PM PST by 4.1O dana super trac pak
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To: 4.1O dana super trac pak
Big fan of Grameen Bank here. Microcredit is one of the best concepts to fight poverty and encourage entrepreneaurship ever devised.

Of course, Sicillians have always had their form of Microcredit, although usually with interest of 500% and with one's legs as collateral.

2 posted on 12/12/2004 2:05:38 PM PST by Clemenza (Gabba Gabba Hey!)
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To: Clemenza

It's 1,000% in this town. Can't imagine the punishment for nonpayment.


3 posted on 12/12/2004 2:08:40 PM PST by 4.1O dana super trac pak (Stop the open borders death cult)
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