Magic of inter loaning: sustaining income generation activities

600 Areca Nut (Betel) saplings have been planted, agreement with the landowner is done on 20% profit sharing and the business plan is underway. One year back, members of Wabusa Farmers Club from Wabusa Para in West Tripura planned to establish a business model which will help transform their lives.

Areca Nut is in great demand in the state but it takes 5-6 years to bear the fruit, informed Robert Lushai, the FARM Northeast coordinator. The operational plan for the business will be discussed by the members.

The club has saved about Rs. 38,000/- by pooling funds from the members which can be borrowed to start Income Generation Activities (IGA) like the vegetable business, livestock rearing, poultry business, rubber business, petty shops, etc. Around eight members have already taken the loan from the club and repaid it back.

Wabusa para has been supported by Caritas India FARM Northeast II programme since 2014. The Socio-economic condition of the target population revolves around the agricultural activities with 80% dependency on agriculture and daily labor.

The decision of inter loaning was started in January 2017 by the Wabusa Farmers Club members to support each other with funds during emergencies or to increase their cultivation for better production. FARM Northeast program had empowered the community to take collective action for the promotion of socio-economic development and self-governance.

The fund is overseen by Wabusa Farmers Club with a minimum interest which is the income for the farmers club. The rules and regulations of inter-loaning established by the club have been accepted by all the members.

In May 2017, the farmers club also received a loan from NABARD Financial Services Ltd. for doing different types of IGA with the help of local partner Jana Unnayan Samiti Tripura.

Additionally, the farmer club in collaboration with Center for Forest-Based Livelihood Extension (CFLE) has started Bamboo Preservation System to treat bamboos for building houses.  This will also be an IGA for the club soon. The club will be linked with different companies for business purposes.