WE RISE: Reducing Barriers to Women's Economic Empowerment in El Salvador and Honduras
The Reducing Barriers Initiative, led by Grameen Foundation, is the first initiative under WAGE's Women Empowered - Realizing Inclusive and Sustainable Economies (WE RISE) Programming, which focuses on women's economic empowerment (WEE). WE RISE has three central goals: (1) to strengthen the capacity of civil society organizations (CSOs) to support WEE; (2) to provide women with the resources they need to succeed as equal and active participants in the global economy; and (3) to engage in collaborative research and learning to build a body of evidence on relevant promising practices. The Reducing Barriers Initiative focuses on women’s economic empowerment in El Salvador and Honduras. Together with Kiva—an online loan platform that connects lenders to indigent entrepreneurs across the globe to alleviate poverty— we provide financial support to women entrepreneurs and work with local microfinance institutions (MFIs) and civil society organizations (CSOs) to reduce barriers that women in both countries face in the world of business.
The core activity under the Reducing Barriers Initiative is a loan matching fund, which will revolve over the course of three years to match loans posted on Kiva’s crowdsourcing platform and financed by individual lenders. As a result of the loan matching, Kiva’s Salvadoran and Honduran MFI partners are able to more quickly and effectively provide financing to women entrepreneurs' micro and small business activities.
While an estimated 1,700 women will benefit from increased access to finance through the loan matching activity, WAGE, Kiva, and its partner MFIs recognize that credit alone is not sufficient to meet the multifaceted needs of women entrepreneurs. Accordingly, consortium partners will implement a series of technical assistance interventions, informed by in-country assessments, to improve women's financial inclusion and economic participation in El Salvador and Honduras.
Our Partners in Honduras and El Salvador
CrediCampo | El Salvador
CrediCampo is an independent non-profit organization based in El Salvador. It aims to empower the economically active poor and small entrepreneurs in rural communities by providing inclusive financial and community development services.
PADECOMSM Crédito | El Salvador
PADECOMSM is a financial institution specializing in accessible and timely financial services for small and micro entrepreneurs, with profits and social responsibility; thus contributing to the improvement of their clients' quality of life.
ODEF Financiera SA | Honduras
ODEF Financiera SA is a microfinance institution that serves micro and small enterprises throughout the Northwest and the Atlantic Coast of Honduras. It focuses on women in rural and marginal urban areas, and provides loans for sustainable development and quality of life improvement.