Women Take First Steps Toward Economic Security with Community Banks
Women in rural Nicaraguan communities have many skills, including sewing, cooking and more. With CEPAD’s community bank program, they learn to turn those skills into businesses so they can make money for their families.
For many this will be the first time they have earned money for their families and represents a transformational shift in their self-esteem.
CEPAD is working with 35 women from seven villages near Matagalpa, to set up a new community bank in each village. CEPAD funds the bank, and the women run it to ensure accountability and a productive use of the funds. The goal is for every member of the bank to start a small business, such as selling food, tailoring clothes, or setting up a small store to sell household goods.
Each woman starts with a small loan, between $20 and $100, and pays it back over four months. With time, the size of the loans will increase to match the capacity of her business. Read more