Mongolian micro-finance experts visits NZ to launch project

A Mongolian expert in microfinance arrives in New Zealand next week to launch World Vision New Zealand's micro-enterprise work in Mongolia.

For Tuvshinjargal Perenlei, it'll be a new experience in many ways. Living in a huge landlocked country, she has never seen the sea, but she will see plenty of the ocean as she travels the length of New Zealand, speaking to World Vision's supporters and those committed to micro-enterprise as a means to helping developing communities become self-sustainable.

Tuvshin, who has a degree in agriculture, and a masters degree in management, pioneered micro-enterprise programmes for World Vision Mongolia a few years ago, through VisionFund, World Vision's micro finance arm. It's a system that works well for her country, which floundered badly after the break up of the Soviet empire.

"The disintegration of the Soviet empire left Mongolia in serious trouble, and with high levels of unemployment and associated social problems such as alcoholism and domestic violence," she says. "Now Mongolian people have moved on from the hand-to-mouth survival that was characteristic of the 1990s and they're looking for ways they can generate an income in the 'new economy', to improve their poor standard of living."

What the poor need, says Tuvshin, is business support, basic business training and mentoring, and some working capital. This is what VisionFund provides.

"The biggest set back for the poor is that they cannot access capital without collateral, and how can you get collateral when you're poor? And 70% of Mongolians live on US$250 a year or less. It's a huge problem, and that's why VisionFund is such a great solution."

As part of her nationwide tour, Tuvshin will speak at public events in Auckland on 27 March and Christchurch on 29 March.

ENDS

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