Brochure: Women And Youth Creating Their Own Economics Opportunity
Since its introduction in Cambodia in 2005, SfC has been refined and market tested. It now reaches more than 140,000 rural poor communities members (85% of members are women) and helped to a mass of more than $5.5 million in community-based savings, through 18 local partners and one academic institution. Through SfC groups, rural farmers and community members control annually 8 million dollars, and manage 6 million dollars loans. Poor, rural Cambodians, most of whom did not have access to bank or Micro Finance Institute services, now have a safe place to save, a share of accumulated interest on increasing group funds, and easier access to loans – which are typically used to income generating activities and to cope against shocks. The project is funded by Red Nose Day Fund, https://rednoseday.org.
ABOUT RED NOSE
Red Nose Day is a special day to come together, have fun, and raise money and awareness for kids in need – in the U.S. and around the world. Red Nose Day has raised over $1 billion globally, and over $50 million in its first two years in the U.S. Money raised through Red Nose Day in the USA supports programs that help ensure children and young people are safe, healthy and educated. Oxfam used money from the Red Nose Day Fund to implement a two-year project entitled “Women and Youth Creating Their Own Economic Opportunity”. The objective of the project is to bring basic financial services (credit/savings) to women and youth to support livelihoods and build assets to offset shocks, to 177 groups with 2,650 members, including 127 new groups with 1,900 members and 50 existing groups with 750 members in 4 provinces.
HOW WE WORK
Through partnership and networks, SfC seeks to empower communities (women& Youth) by providing access to savings and credit and a platform for trainings. In partnership with local NGO partners, Oxfam will continue to strengthen the existing SfC groups and form more new groups. Many training will be delivered to the selected SfC’s members. Those training courses will be C-BED training on profitable livelihood investments; leadership training to cultivate women & youth leaders; and digital platforms to link rural Youth to reproductive health information (via YouthChlat) or mobile cash transactions. Oxfam and its partners conduct regular monitoring visits, trainings, and refresher trainings to ensure project quality and prevent undesired outcomes. This method is tried and tested, building on the success of existing groups.
For more detail, please download the project brochure.