| Project Detail |
About 2,5 billion people do not have access to financial services and are often forced to rely on risky means to manage their money. In all of SDC’s partner countries ‘Access to Finance’ constitutes a key bottleneck for poor and vulnerable populations to improve their livelihood by increasing their income generating activities and/or better managing their household cash-flow. Low-income people face high risks and need appropriate savings and insurance services. Women are more likely than men to spend their income for the welfare of the family. They are also prudent entrepreneurs managing the majority of micro enterprises in many countries. Smallholder farmers need to hedge the increasing weather risks of drought and flooding so as to raise their productivity and food security.
Objectives Access to a range of client-oriented and cost-covering financial services (savings, insurance, leasing, credit and payments) is important for low-income households, farmers and micro enterprises to: sustain and expand income generating activities, build assets, smoothen household consumption, and reduce risks and vulnerabilities. In addition, it is key for micro and small enterprises for to expand their operations and thereby generate income and employment at a larger scale. The intervention focuses on partner financial institutions that cater specifically to the financial needs of smallholder farmers and low-income women. Access to financial services for low income women has proven most effective in improving the social welfare of their families in terms of better nutrition, health, and education; whereas such access by smallholder farmers increases food security, farm productivity and rural livelihoods. |
