Empower women through financial access & service

by World Vision
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Empower women through financial access & service
Feb 25, 2021

2020 Report > Women's Economic Empowerment Fund

Vesina farming in Malawi
Vesina farming in Malawi

Thank you for walking alongside women through the Women’s Economic Empowerment Fund. With new opportunities and resources, women are growing their incomes, becoming leaders, and building stronger futures. Evidence shows us that empowering women with financial resources and income opportunities benefits families, communities, and entire nations. The U.N. estimates that if women in rural areas had the same agricultural assets, education, and access to markets as men, the number of hungry people in the world could be reduced by 100–150 million. Still, many women in rural areas face inequalities that hold them back from reaching their potential. But when women have the tools they need to thrive, they become powerful agents of change against poverty and malnutrition. Part of our programs focused on agricultural communities are called THRIVE and include Empowered Worldview training (EWV), which builds confidence and self-reliance by teaching about each person’s intrinsic worth and abilities. From that foundation, participants are equipped with financial tools and agricultural training to pursue their goals. By giving to the Women’s Economic Empowerment Fund, you partner with women on their journey to greater self-reliance. This report highlights what women have accomplished in Malawi, Rwanda, Zambia, and Honduras in FY20. May you be encouraged by the strides women are making toward fuller lives for themselves and their families.

 

RWANDA

At first, women in Rwanda weren’t sure they could afford to save money. But now, 9,232 women savings group members have savings for emergencies and can access loans to invest in small businesses. In FY20, 2,098 women received loans from VisionFund, World Vision’s microfinance network (average loan value $45), and 114 women were trained on household financial management (bringing the life-of-project total to 5,228). Participants reported greater social cohesion, less isolation, and more self-confidence. Other life-of-project (FY17- FY21) achievements include:

• 7,903 women trained in EWV (97% of target).

• 147 women led EWV trainings (74% of target).

• 7,453 women reported improved attitudes toward future financial prospects (91% of target).

 

MALAWI

In Malawi, women make up over 60% of the total THRIVE participants. Both women and men attest to the rapid economic growth that happens when women are empowered—starting in their own households. In EWV, women learned to identify barriers to the success of their businesses and develop solutions. The majority of women (94%) reported greater self-confidence and self-reliance after participating. With access to financial resources, women felt more freedom to invest in income-generating opportunities, and their households are enjoying more consistent and diverse diets. Other life-of-project (FY18-FY22) achievements:

• 10,819 women trained in EWV (113% of target).

• 6,864 women trained in financial management (72% of target).

• 10,827 women took loans from their savings groups for income-generating opportunities (average loan $76).

 

ZAMBIA

In Zambia, 53% of THRIVE farmers are women. They’ve started new income-generating activities like raising goats, corn farming, and growing fruits and vegetables. THRIVE supports their financial growth by facilitating commercial producer groups (7,812 members, 50% women) that enable farmers to access better markets and better prices through group buying and selling. THRIVE also started a mentoring program based on EWV, because one of the best ways to encourage a woman’s personal and financial growth is to connect her with another woman who is already achieving her goals. Other life-of-project (FY17-21) achievements:

• 6,231 women trained in EWV (79% of target).

• 6,684 women joined savings groups (84% of target).

• 5,008 women took loans from their savings groups for income-generating opportunities (average loan $27).

 

HONDURAS

Though the state of emergency in Honduras caused by COVID-19 prevented EWV refresher training to reinforce behavior change in FY20, participants demonstrated the value of previous training by continuing to save, invest, and seek new opportunities in the face of economic challenges. In FY20, women THRIVE participants showed a 28% increase (since FY19) in their income and built their savings to $35,561, an increase of $12,801 over the beginning of the fiscal year. Participants (men and women) also saved $21,003 as an emergency fund to help in the case of natural disasters. Other life-of-project (FY17-FY22) achievements:

• 8,681 women trained in EWV (100% of target).

• 4,508 women with improved attitudes toward future financial prospects (52% of target).

• 3,718 women took loans from their savings groups for income-generating opportunities.

Kandindi's improved her farm through savings
Kandindi's improved her farm through savings
Grace at her farm in Zambia
Grace at her farm in Zambia
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Organization Information

World Vision

Location: Federal Way, WA - USA
Website:
Project Leader:
Bernadette Martin
Federal Way, WA United States

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