Tagged: microfinance

  • Banking on the unbanked

    Financial exclusion is a central component of the poverty trap, foreclosing economic opportunities for the “unbanked” and making it almost impossible to start or grow a business. Billions of working people, mostly in Asia and sub-Saharan Africa, lack access to basic financial services, with women, the uneducated and migrants especially disadvantaged.

    The microfinance movement in the 1970s realized that giving people — especially women — access to even tiny amounts of credit unleashes individual initiative and that creating the conditions for people to be more self-reliant is inherently empowering. As microfinance programs grew into established institutions and as emerging economies have become more formalized, the disparity between women’s and men’s access to financial services has grown. Today, approximately 58 percent of women have a bank account compared to 65 percent of men. This is not only an indicator of inequality, but it also exposes the fact that more than 35 percent of working people are excluded from opportunities for upward mobility.

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  • New Video Highlights Benefits of Family Planning to Microfinance Clients in India

    FPquoteImagine millions of women who want to limit their family size or space their next birth, but can’t because they lack access to family planning. Imagine that many of these women have no knowledge of family planning at all. Hard to imagine after decades of national and global investments in health? This is the reality for many families around the world, particularly in developing countries, where approximately 222 million women have an unmet need for family planning.

    Innovative approaches to reach people with family planning information and services are critical. Under FHI 360’s PROGRESS (Program Research for Strengthening Services) project —a project funded by the U.S. Agency for International Development to improve family planning services among underserved populations in developing countries — a key strategy is to move beyond the health sector to reach women and men of reproductive age who need family planning but might not otherwise have access to it. As non-health development programs reach a large proportion of the world’s poor, PROGRESS builds on these networks to bring family planning information and services to communities. Family planning has been shown to contribute to the broader development goals of poverty reduction, enhanced education, environmental sustainability and gender equality, and therefore fits well with the goals of non-health development programs. Currently, PROGRESS supports several intervention-based studies on integrating family planning into non-health programs such as agriculture, environment and microfinance.

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