WOMEN’S ACCESS TO CREDIT

Millennium Developmental Goals for 2015

United National Millennium Goals Goal #3

Promote Gender Equality and Empower Women Increase women’s access to credit

Problem People in impoverished countries

remain excluded from economic growth

Many are still far away from reaping the benefits of the global economy

Microcredit Institutions (MCIs) Offer access to small credit loans Teach women basic ways of

borrowing and paying off loans Begin a business, invest the money,

education, feeding the family, clothing and shelter

Women and MCI’s

Women have always been the focus of MCI

More likely to invest their money towards the well-being of their families

Kiva

Kiva is an example of an MCI Mission is to “connect people, through

lending, for the sake of alleviating poverty.” Empowers individuals to lend to an

entrepreneur across the globe

Grameen Bank (GB)

Removed the need for collateral and created a system based on mutual trust, accountability, participation and creativity.

Provides credit to the poorest of the poor in rural Bangladesh.

Success Story A married women with 3 children who

sells groceries, and clothes received a loan of $450 to buy more supplies.

She has been able to get more profit and train her children. She paid the loan back in full after 10 months.

Results Ninety five percent of people who borrow,

pay back the loans The high payback rate helps build the

financial security of the group, improves chances of moving away from poverty

What do you think?

References

Grameen Bank. (2011). Banking for the poor. Retrieved on September 15, 2010 from http://www.grameen.com/index.php?option=com_zoom&Itemid=103

Kiva. (2010). Loans that change lives. Retrieved on September 14 from http://www.kiva.org/

United Nations. (2010). Work for the People and the Planet. Retrieved on September 14, 2010 from http://www.un.org/works/sub3.asp?lang=en&id=22

Photographs: Kiva. (2010). Loans that change lives. Retrieved on September 14 2010 from

http://www.kiva.org/press/imagegallery

Kate PerkinsUniversity Scholars Program

Hazel Forsythe, Ph.D. RD. LD.Associate Professor

March, 2010

Educational programs of Kentucky Cooperative Extension serve all people regardless of race, color, age, sex, religion, disability, or national origin.