A Commitment to Microfinance Plus
Tuesday, 21 Apr 2015
As part of its new five year strategy, VisionFund International (VFI) will expand the amount of work it does to integrate its products and services into development and humanitarian sectors such as water and hygiene, education, shelter, energy efficiency and emergency response in order to increase the impact for communities and children.
Recent successes from collaborative projects between VisionFund and World Vision have shown the depth of impact that microfinance has when designed to complement other poverty intervention initiatives. In 2013, when working within World Vision’s resilience and livelihoods programmes, access to credit helped to increase the collective income of a group of Tanzanian farmers by 140 per cent. Similarly, the inclusion of microfinance into the response to
Typhoon Haiyan in 2014 meant that over 9,000 children benefited when VisionFund developed a ‘recovery loan’ to complement World Vision’s rehabilitation work. Almost US $2million was lent to over 4,000 people to help them rebuild their businesses quickly and in full.
VisionFund’s new strategy – Building Futures Together – pledges to build brighter futures for 9 million children each year by 2019. Other key outcomes include: increasing the growth of its microfinance institutions to offer a wider range of services to more clients, developing its livelihoods work in rural areas, being a voice of influence within the industry and securing the funding to support its delivery.
Watch the strategy video to understand each core outcome.
Download Building Futures Together executive summary.Source: www.visionfund.org
Category: Payday loans