Women and girls are overrepresented among the poor in many regions of the world, especially where World Vision works. The latest data shows that 80% of those living in extreme poverty live in rural areas. So, in order to truly end extreme poverty, we need to empower the most economically vulnerable people – rural women. World Vision has a powerful economic empowerment tool - Savings for Transformation groups.
Savings for Transformation groups are a way for women without access to formal banking services to achieve a level of financial security. Members often use their savings to pay school fees, make improvements to their houses, or invest in their farms/businesses. After two years, members are able to apply for a loan up to 50% of their prior years savings, enabling them to grow their businesses. Every time the group grows, they are able to obtain larger loans. This process creates a virtuous cycle of financial growth and opportunity, taking these women from the margins of society to thriving economic contributors in their communities.
We are thrilled to partner with World Vision’s Savings for Transformation groups project. A $25,000 “Starter Kit” allows World Vision to hire a female field officer, and equip her with the transportation, training, and capital needed to lend to 15-20 savings groups. We, in Pennsylvania, are targeting to raise $150,000 to fund six (6) field officers who serve 180 savings groups, reaching up to 3,600 members (80% of which are women) with 10,800 children. A donor partner has graciously offered a $50,000 matching gift! We have raised $30,000 so far, leaving $20,000 left to fully match this gift.
Join us in reaching this goal and economically empowering women!
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