Commitment to Action

FINCA's 100,000 Village Banks Campaign

Commitment by

FINCA

In 2006, FINCA launched the Village Banking Campaign to double its impact: to extend working capital loans, micro-insurance and savings to one million low-income entrepreneurs, the vast majority of them women and mothers, through 100,000 Village Banks by the end of 2010. Village Banks empower micro-entrepreneurs to effect their own economic development, allowing them to create jobs, build assets and improve their standard of living. In its unique model, FINCA does not simply extend loans to low-income families but rather helps to create community-run, community-focused credit and savings associations, particularly in areas untouched by the formal financial industry or other microfinance institutions. FINCA's loan range of $50-$500 ensures that the poorest of the poor beneficiaries are reached; FINCA has used the Village Banking method to build a track record of success over its 20-year history in Africa, Eurasia and Latin America.
Since first announcing its commitment at the CGI in September 2006, FINCA has provided financial services to more than 290,000 new micro-entrepreneurs.

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Overview
Summary

Commitment

FINCA's 100,000 Village Banks Campaign

Launched

2006

Est. Duration

2 Years

Estimated Total Value

$40,000,000

Region

Asia, Africa, Latin America & Caribbean

Countries

AFGHANISTAN, ARMENIA, AZERBAIJAN, Democratic Republic of the Congo, ECUADOR, EL SALVADOR, GEORGIA, GUATEMALA, HAITI, HONDURAS

Commitment by

FINCA

Partner(s) of the Commitment Maker(s)

Visa Inc., American International Group, Inc. (AIG)