Pak Ketut's Bank Loan
Clearing Ibu Komang's Bank Loan
Today we met with the heads of the Banjar (village leaders), local bank representatives and a very nervous Ibu Komang (please watch her story in our last post). The mission of the day was to pay back her $180 bank loan - which the family had to take out when struggling to survive during Covid. Bu...
Meeting Ibu Komang
Today we were asked if we could support a local family in Ungasan Bali with basic food supplies. Often when we visit a family for the first time we know very little about their situation. We don’t know yet what their problems are nor why they have difficulty providing for themselves. Ibu Komang...
Clearing Ibu Komang's Bank Loan
Today we met with the heads of the Banjar (village leaders), local bank representatives and a very nervous Ibu Komang (please watch her story in our last post). The mission of the day was to pay back her $180 bank loan - which the family had to take out when struggling to survive during Covid. But how would Ibu Komang ever be able to pay back this loan on her own? Her monthly salary of $160 is barely enough
to provide for herself and her two children. Unfortunately, crazy interest rates of 18% per year and higher are very common in Bali. Often poor and less educated people sign these contracts when in desperate need of money - completely unaware that these contracts will cause them never ending problems in the future.
We are happy to announce that we payed back Ibu Komang’s complete debt today: $180 loan and $60 accumulated interest. Finally Ibu Komang is smiling again - a big burden was lifted of her shoulders.
to provide for herself and her two children. Unfortunately, crazy interest rates of 18% per year and higher are very common in Bali. Often poor and less educated people sign these contracts when in desperate need of money - completely unaware that these contracts will cause them never ending problems in the future.
We are happy to announce that we payed back Ibu Komang’s complete debt today: $180 loan and $60 accumulated interest. Finally Ibu Komang is smiling again - a big burden was lifted of her shoulders.