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Investing in the entrepreneurial poor
Economic development is an important part of World Vision’s Transformational Development strategy. The general objective is based upon the contribution to the sustainable economic development of families and organized communities within a framework of justice and solidarity, in order to contribute to the reduction of poverty.
This has produced the creation, since 1993, of 12 microfinance institutions affiliated to WV, which serve about 67,000 active borrowers -74% being women- and impact more than 225,000 boys and girls with total loans of USD 25,2 million, sustaining an active loan portolio of USD 23,6 million.
Economic development is a very significant component that contributes to the transformational development of boys and girls, their families and communities. We have identified economic development as a factor that contributes to their well-being, empowers them to become agents of change, facilitates transformed relations, impulses empowerment and interdependency relations, and promotes transformed social systems; all these have been identified as critical domains of change that contribute to their transformational development. Development of economic capacities, Supply of microfiance services, Access to markets, Promotion of economic justice.
All this activity has created work opportunities in areas ranging from agricultural diversification, business incubation with entrepreneurial networking methodology, development of productive capacities, productive organizations, complete entrepreneurial advisement, all the way to comercialization experiences in local, regional, national and international markets; inter institucional relations, mature partnerships with specialized organizations, and encouragement to businesses in their call for social responsibility.
The key components that we work on every day are:
Also, in some countires, some pilot programs have integrated microfiance with HIV/AIDS programs and the strenghtening of stewards and ethics and the businesses of micro entrepreneurs. |