VEF, a Microfinance organization delivers integrated microenterprise and conservation program in Uganda

Microfinance Focus, July 24, 2010: Village Enterprise Fund (VEF), Headquartered in California, works in Kenya and Uganda for rural microenterprise development, has received a special grant from the Disney Worldwide Conservation Fund (DWCF), said a report. VEF intend to direct the program in the communities surrounding Uganda’s Budongo Forest, an important conservation area in East Africa and home to roughly 600 chimpanzees. The grant enables VEF to expand its successful microfinance program to other front-line villages and to strengthen training in resource sustainability.

A client of VEF

“We are very proud to include Village Enterprise Fund among our 2010 award recipients.  The work they are doing to promote wildlife and forest conservation in concert with establishing economic opportunities is critical to conservation success in local communities.” said Kim Sams, Director, Worldwide Conservation Programs, Walt Disney Parks and Resorts.

VEF selects local village leaders (Village Business Mentors) to provide mentoring during the first year of the new business. VEF first provides formal training on topics such as profits, record-keeping and group cooperation. Grants of $150 are given to business groups of five people. This small sum, which does not have to be repaid, has been proven over 22 years to have a significant impact in East Africa. In three years, VEF has helped to start 480 businesses and trained 2,400 people in 40 villages adjacent to the forest.  Other funders of this project include the Arcus Foundation, Irwin Andrew Porter Foundation, Staley Family Foundation, and Project Redwood.

VEF, founded in 1987, has helped launch more than 21,000 businesses, each of which improves the lives of an average of 25 people (525,000 people total).

The Disney Worldwide Conservation Fund is the Part of Walt Disney Parks and Resorts Worldwide, the Disney Worldwide Conservation Fund (DWCF) manages an annual cash awards program focused on the study and protection of the world’s wildlife and ecosystems, involving communities and addressing human needs. The DWCF has taken Walt Disney’s legacy across the globe with more than $15 million in grants to conservation programs in 110 countries.  The DWCF is funded by Disney and contributions from Disney Guests.

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