Hundreds of thousands of people achieve financial stability and economic empowerment thanks to microfinance initiatives facilitated by Plan International through its partners. Microfinance involves extending small loans, savings and other basic financial services to people that don’t currently have access to capital. It’s a key strategy in helping people living in poverty to become financially independent, which helps them become more resilient and better able to provide for their families in times of economic difficulty. Considering nearly half the world survives on less than $2 a day, microfinance is a vital solution.
By providing access to financial resources, knowledge and the chance to accumulate savings, our microfinance programs allow families greater flexibility in managing their resources to become more resilient and provide for their children.
Plan Internationals works in partnership with local microfinance service providers as well as other organizations on poverty-breaking initiatives. In Peru, for example, Plan International’s work through partnerships has helped 8,000 families access financial services and receive educational support. One such partner is Arariwa, a non-governmental organization with expertise in microfinance projects. Together we have helped bring village banks to rural areas of the Cusco region and complemented these services with educational projects on business management and children's and women's health.
People who do not have access to financial services are much less likely to save money and are therefore less likely to have the resources to keep their children healthy, safe and in school.