During the 1975 UN Women’s Conference a remarkable concept was born, the concept of a women’s Bank, dedicated to empower women through small microloans that would benefit the whole family. Five women from five continents realised that to defeat poverty women had to be empowered to run their own business within the community in which they live. The businesses would be small in concept but would make a collective difference to the whole village or community, because they would have more services and facilities. Not only that the theory behind empowering women was the fact they women would work harder for their children and also educate their children and the long term effects could be more worthwhile than giving men the money.
Women’s World Banking (WWB) was officially launched as a non profit in 1976, and it helped to provide in some cases the first mobile phone to a village, thereby improving communications and creating a viable business for very little money. (more…)
