Commitment to Action

Saving for Change (SfC)

Commitment by

Oxfam America

In 2008, with funding from the Gates Foundation, Oxfam America committed to expand its Saving for Change (SfC) program. Saving for Change (SfC) is a robust, highly decentralized and locally controlled methodology built on the experience of ground-breakers in the field of savings-led microfinance. Approximately 20 participants, mostly women, living in a rural community--come together to form a group that enables saving and lending, and pays dividends to members. Oxfam's SfC program will benefit over 560,000 women over five years, in Mali, Cambodi, Senegal, Guatemala, and El Salvador, after which time the organization plans to innovate and expand the program to reach more women in more countries, also introducing additional development services, such as agricultural initiatives and business training to mature savings groups.

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Overview
Summary

Commitment

Saving for Change (SfC)

Launched

2008

Est. Duration

5 Years

Estimated Total Value

$13,769,928

Region

Asia, Latin America & Caribbean, Africa

Countries

CAMBODIA, EL SALVADOR, GUATEMALA, MALI, SENEGAL

Commitment by

Oxfam America

Partner(s) of the Commitment Maker(s)

Freedom from Hunger, The Stromme Foundation, Innovations for Poverty Action, University of Arizona, The Western Union Company, FAHU Foundation, Linked Foundation, Bill & Melinda Gates Foundation, Visa Inc.