India-Microfinance for rural women
From Humana Microfinance in India:
The people can make changes. People need others to support them, assist, inspire, and give a hand. This is what Humana Microfinance does.
The most pressing issues facing humankind can better be solved if people can organize themselves to in economic development.
Humana People to People India has been working together with the rural women of Alwar district of Rajasthan since 2007 through Humana Micro-finance project. The idea of the project is to provide small loans to rural women with the aim of improving their lives. The women organize themselves into Self-Help groups. The groups ensure that the money received has been used for a viable project which assist to generate a profit. Meetings are carried-out often to support each other’s small enterprise and loan payment.
The main activities of Humana Micro-Finance are lending funds, training financial literacy and training in production. Since 2007, the loans have increased from being accessed by a few hundred women to benefiting 7,914 women, amounting to slightly over one million dollars.
Humana Microfinance together with a partner “Friends of Women World Banking in India” (FWWB) conducted financial literacy training with all the existing borrowers. The borrowers who participated in the trainings received loans. They managed to realize an increase in their household income, opening bank accounts, increase in household assets, improved nutritional status and decrease in school dropouts among borrowers’ children.