The next project to be covered on the goodwithmoney blog is the hard hitting

“2 Young 2 Die”

Belma and Sangeeta in the tunnel underneath Sarajevo that was used during the war, man showing photos and remnants from the war when the tunnel was used. Soliders used the tunnel to ship food aid through…

In this clip Belma takes us back to her old school, which was used by the Bosnian army as a base.
Then she goes to the town centre, and chats with an old couple about Bosnia.

Youtube alternative here

Belma takes Sangeeta back to her childhood another moving chapter!

In one of the more emotional films of the series, Belma and Sangeeta revisit Belma’s home, before her and her family fled the war. I’m just going to let the video do the talking on this one, there’s not much more I can add.

On the way to Mostar from CFS on Vimeo. Youtube alternative here.

Belma and Sangeeta reflect on the trip so far from shot in the holiday inn, Tyhis, the scene of repeated devastation throughout the war in 2003.  It’s clear that they are overwhelmed by the impact micro finance is having in Bosnia, and that progress in the country is far ahead of what they had expected to be the case.

Micro finance is a tool that can help to rebuild people’s lives “When you think about what you’d spend £2,000 on, and then compare it to how some Bosnians have spent it on completely rebuilding their lives, it makes you realise how lucky we are,” reflects Sangeeta.

Belma and Sangeeta meet another of Zene za Zene’s (Women for Women – part of Women for Women International who lend solely to women) clients. “When we were told that we were going to meet a dress maker we were expecting to find a cottage industry – maybe a room in the house with the dress making equipment in it,” recalls Sangeeta. What Belma and Sangeeta find though is a not so little shop employing seven workers.

“The dress makers were one of Zene za Zene’s first clients, borrowing 5,000 Euros from the micro finance initiative,” adds Sangeeta. “What was clear from the visit is that this money is having a real impact – it’s not just a case now of making a living to get through each day – she’s able to help her staff to get on their feet too.”

In this video, Belma and Sangeeta meet Dina, one of Zene za Zene’s clients who owns a dairy farm.

During the video, Belma and Sangeeta reflect again on the difference micro finance is having not only on the current generation, but also on future generations. Dina talks of how the micro finance funding has allowed her to grow her business to mean she is now in the position to be able to provide her daughter with the opportunity of attending a good school and university, meaning her daughter is now fluent in English.

Financial Highlights

• Total shareholder profit before tax, significant items and short-term investment fluctuations was £73.4m (2007: £38.0m) an increase of £35.4m.

Key points:

• £46.2m profit from Banking activities (2007: £45.5m),
• £1.5m technical loss from General Insurance (2007: £33.3m loss) an improvement of £31.8m from 2007 which was affected by exceptional weather
• Bank net revenue increased by £15.7m with an increase in net interest income of £13.3m and an increase of £2.4m in non-interest income.
• Bad debts fell to £45.3m (2007:  £53.2m).
• General Insurance claims ratio fell by 19.5% to 74% (2007: 93.5%). (Long-term business in Life and Savings is transacted on a mutual basis with all profits retained for the benefit of policyholders)

David Anderson, our Chief Exec said: “These results reflect a very solid performance in what is currently a tough market. Whilst we aren’t immune from the economic consequences of the credit crunch we strongly believe that by demonstrating that building your business on strong ethical principles and by delivering evidence of clear ethics in action, such as our involvement in microfinance, we will continue building on the trust and responsibility associated with The Co-operative brand”.

The Bank’s ethical policy is being renewed this year - if you want to be involved in the vote, you can get more information here.