According to the Global Findex, women are 20% less likely to be formally banked than men and 17% less likely to have taken out a loan from a financial institution.
Worldwide, women make up the majority of the approximately 2 billion unbanked individuals.
For 30 years, FINCA has empowered both women and men entrepreneurs, knowing full well that poverty disproportionately affects women and girls. It’s not just about equality, however, and this is not a “women’s issue.” When women are empowered to work and create their own businesses—through access to finance, education, markets, land titles and courts—the talents of half of the world’s population are unleashed and economies grow. This is smart economics, and everyone benefits.
Meet Sultana Bibi, FINCA client in Pakistan
In the last decade, the international development community has widely accepted the business case for enabling women’s participation in the economy. FINCA continues to play its crucial role.
“It has been proven time after time that increasing the incomes of poor mothers results in an almost immediate improvement in their children’s diet, and an increased likelihood that they can send their children to school. And when a child is educated, he or she has better opportunities to live outside of poverty.”
John Hatch, Founder, FINCA