LIFT donors were fast to provide an additional $1 million of funding to re-establish livelihoods after the floods. The flexibility to reallocate existing project funds to pressing livelihoods needs was also approved.
First and foremost, LIFT is looking for opportunities to get key livelihood activities restarted as quickly as possible. The second aim is to minimise the increase in household indebtedness caused by the floods. Thirdly, LIFT wants to minimise the impact of loan defaults on the long-term sustainability of our microfinance partners - and therefore the future access of poor households to affordable financial services.
LIFT is consulting existing microfinance partners. Support is likely to be a combination of debt relief, debt restructuring and new financing, and the combination will need to vary by area and circumstance.
Meanwhile, in Rakhine State, LIFT is bolstering its Tat Lan Programme with reallocation of existing budget. A total of $212,000 has been reassigned for paddy seeds to allow farmers to replant the monsoon crop, to stabilise fresh water supplies, and to rebuild damaged embankments that protect agricultural land from salt water intrusion.
Our partner the International Rice Research Institute (IRRI) is sending eight tons of quality paddy seed to Rakhine State - three tons are supported by LIFT - to ensure that farmers can replant with fast-growing varieties of rice.
Elsewhere, LIFT is supporting partner the Gender Equality Network to conduct an assessment of the specific needs of women and children after a natural disaster such as this, for sharing with partners and government.
Watch our Facebook page for regular updates on LIFT’s livelihoods recovery work, and updates on the hard work of our partners www.facebook.com/liftfund
Photo: Staff at IRRI prepare seed packages for Rakhine State, August 2015 (supplied).
LIFT is funded by Australia, Denmark, the European Union, France, Ireland, Italy, the Netherlands, New Zealand, Sweden, Switzerland, the United Kingdom and the United States of America. From the private sector, the Mitsubishi Corporation is a donor.
LIFT is managed by UNOPS.
