Pupils at Highfield Prep School are learning about loans, debt and money in a wider world through Lendwithcare, a new microfinance loan scheme run by Care International.
Lendwithcare helps people in developing countries with a loan to boost or start a small-scale business, which is then repaid when up and running.
Each school house at Highfield has raised funds to lend to individuals in developing countries who wouldn’t be able to access traditional banking.
The children will slowly see their loans paid back and will then lend the money out again, helping more people with the same money, over and over again.
A Highfield lending team has also been created enabling families to lend at home and make giving a part of family life.
Some 19 loans have been given out so far which have helped 64 entrepreneurs and created 71 jobs in the developing world.
Year 5 pupil, Alex Jones said, “It’s amazing to think that we can change someone’s life with a small loan.
“My house is supporting an entrepreneur in Cambodia who requested a loan to buy a walking tractor to help him improve his farm production and we’re really excited to see updates of his business growing.”
James Savile, Head of Highfield Prep School said: “This continues our different approach to charity to try to show innovative, sustainable and effective interventions to help people in need.
“It also allows us to open up new areas of learning to the children, here introducing loans as a positive and useful way of using money.
“Through creating a link with the recipient, wherever in the world that may be, the difference between local and international charity disappears, and all giving becomes local.”
Pictured, from left, Poppy Riall, Alex Jones, Reewa Bennett, Adam Warbuton, and Jonty Roberts.