NGO launches project to motivate Slovak Romanies' money saving

The Slovak Romany families who will save money under firmly set conditions will receive an extra bonus worth the saved sum after two years within a project the ETP Slovensko NGO launched earlier this month.

The NGO director Slavka Macakova told journalists today that the project addresses 150 Romany families from east Slovakia for the time being. It can be joined by one money saver from each family, she said.

Romany families often become short of money they need to run their households.

"If they continue saving…, in the end we will give them 100 percent of what they saved, in addition to the saved sum," Macakova said.

The project has been financed by the Open Society Institute, foundation that organises a similar project in Hungary, using the experience it has gained in helping the poor in South and North America.

The saver who deposits 1,500 crowns a month would gain an additional 36,000 crowns from the foundation after two years of saving.

A condition is that the saver must set an aim he/she would use the money for beforehand. The goal can be a driving licence, house purchase or reconstruction or a business investment.

"The project is very demanding in terms of the observance of the conditions, but it motivates families to try to overcome their state of poverty," David Meier from Open Society Institute said.

Referring to his experience he said that up to 50 percent of participants manage to complete the programme.