The types of financial services that low-income women are able to access have also changed. In 1995, we were still promoting the idea that low-income women entrepreneurs were optimal loan clients. Today, financial institutions are offering savings, microinsurance, digital financial services to rural families, women who work in factories, and women who run larger businesses.
As small business owners in the Philippines, these women often do not qualify for traditional loans and other commercial banking services. They look to nonprofit financial institutions like Negros Women for Tomorrow Foundation (NWTF) for financial services that are specifically designed to help them build their businesses.
This week The Pollination Project honors people around the world who are helping their communities address some of their most basic needs. From a women-run business in Nigeria, to school gardens in Tanzania and Uganda, and a creative rebuilding effort in Gaza, Palestine, these grantees are showing us how small local initiatives really do make a difference.