About the project
This project aims at social and economic empowerment of women who live on less than two dollars in a day. The project provides microfinance loans and business training to women in Kenya so they can start businesses and work their way out of poverty.Microfinance is one of the most effective and flexible strategies in the fight against global poverty. It is sustainable and can be implemented on the massive scale necessary to respond to the urgent needs of those living below poverty line.
Women face many social, cultural, political and economic barriers that inhibit them from actively participating in family, community and national development.The World Bank estimates that eliminating barriers that discriminate against women’s working in certain sectors could increase labor productivity by as much as 25 percent. Ensuring women’s equal access to agricultural resources and financial credit would have a dramatic impact on food security and overall economic growth.According to the Food and Agriculture Organization, if women had the same access to productive resource as men, they could increase yields on their farms by 20 percent to 30 percent, raising total agricultural output in developing countries by 2.5 percent to 4 percent.
This project thus targets rural women who often lack literacy and numeracy skills and shy away from financial institutions through innovative projects such as village saving and lending associations. Banking on women is investing in the whole society.Studies show that women are much more likely than men to reinvest their earnings in their businesses and their families. As their micro-businesses expand, entire communities benefit.
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