Participating villages in the Danajon Bank have collected an average of 200 kg of nets per village each month.
- For every 2.5 kilos of nets collected, a family can purchase 1 kilo of rice –this equates to approximately 4,800 extra meals per village annually on the tables of poor families whose typical monthly household income is less than $195.
- Along with helping the villagers clean, sort and sell the fishing nets, Net-Works has established Community Banking systems for the residents—supporting and strengthening the local, developing economy, and providing new financial opportunities for residents. Community Banking empowers village members to establish forms of micro-insurance, savings and loans for the benefit of both individuals and the community.
- Community members have already taken out loans for education needs such as school supplies and courses for children. Members have also tapped funds to start new forms of sustainable income, including seaweed farming.
- Net-Works has delivered financial services directly to 255 households through Community Banking. An additional 637 households have benefited from other forms of microfinance operations linking them to the supply chain. Overall, Net-Works has reached an estimated 4,460 people through these initiatives considering an average of five individuals per household.