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STATISTICS:
•In Bolivia, microcredit loan clients doubled their income in two years, according to the Global Development Research Center. Clients were also more likely to access health care for themselves and their families, and more likely to send their children to school.
•An eight-year World Bank study in Bangladesh found that 48 per cent of the poorest households with access to microcredit loans rose above the poverty line.
Macro changes through micro credit
Katherine Zavala
PeruGALLERYCONVERSATION
I consider women of my generation to be the children of globalization.

Globalization has ushered in the availability of the Internet, cell phones, and other technological advances that help us connect to people around the world. As a result, we can build more lasting relationships with our friends and colleagues, and really create a social network anywhere in the world.

In the summer of 2005 I had the opportunity to intern with a Guatemalan NGO called Women’s Association for the Development of Sacatepéquez (Asociación para el Desarrollo de Sacatepéquez – AFEDES). As student of International Relations from San Francisco State University, I was hoping to learn about the dynamics of microfinance. I was especially eager to work with AFEDES as they were a great example of a program that used an integrated approach to impact the lives of women in the region.

Micro credit programs offer small loans to the very poor for investment in income-generating activities. Throughout the developing world, women are the main recipients of micro credit loans. Women often outnumber men in the poorest segments of society. Most women are involved in the informal sector, and lack access to credit. In addition, women tend to run the daily household budget and are largely responsible for their children. Thus, they are important agents of social change.

I was excited to see AFEDES being led by women of my generation, women whose life experiences were very different from my own. In many Western countries, education is taken for granted. But these women did not have the same access to education that I had. Many of them had faced many obstacles in order to achieve their goals for education. I talked to several women, for instance, who had to convince their fathers to let them go to school instead of working in the fields.

I got to know these women, and learned about their history, their struggles and their desire to empower themselves. AFEDES showed me how microfinance is an important facilitation tool, where financial services have the capacity to interact with many aspects of clients’ lives, not just to develop an income-generating project.

Throughout the time-period of my internship, I learned that offering women access to micro credit and savings alone is not the panacea to poverty reduction. This system needs to be accompanied by other actions that will stimulate women to think, analyze and learn skills that will guide them to manage their money in a more effective way, and as a result, will empower them as human beings.

Many practitioners of microfinance believe that the benefits derived from microfinance, basic education and primary health are interconnected, and programs have found that the impact of each can increase when they are delivered together. AFEDES is one of those practitioners, which is why they have also initiated education loans to children, and are planning the integration of a new health program to their organization.

Although I believe in the success of microfinance, I also believe it is not the only solution to help eliminate poverty. I gained new perspectives about the challenges that organizations such as AFEDES face, by physically being there.

As a young woman of my generation, I feel proud and thankful that I had the opportunity to get to know women of my generation with different cultural backgrounds. I learnt that we shared the common interest of encouraging and inspiring women to become the best possible human being they can be. By sharing our stories and experiences, we can support each other and create a network for our voices to be heard. I hope that by sharing my experience with AFEDES it will shed light on how indigenous women have successfully used microfinance to enhance their livelihoods and become stronger, skillful and confident women.
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Laura Ward (United States)
It's inspiring to hear about your work in Microfinance with ADEDES in Guatemala. Its powerful - as a young woman from a family where education is so highly valued - to be reminded of never taking that gift for granted. I see Microfinance as becoming more & more important in the 21st century as gov'ts, financial institutions, etc... realize the importance of as a mechanism for change & int'l dev.
Sarah (United States)
This story reminds me so profoundly of the importance for young women today to experience the reality of a different culture, a different way of being in the world and how much it enriches our own experiences. Thank you for sharing.
Lisa (United States)
Very inspiring story! There are so many great micro credit stories out there - let's try to collect them and tell the world what a HUGE impact micro credit is making on women (and families) all over the world! If you have a story to share please add it here - we would all love to read more!
heidi hernandez (United States)
I would love to know more details about this service and how it works. Thanks for bringing out for the world to see that something like this is possible.
Noreen Malik (United States)
Thank you Katherine for sharing such an inspiring and heart warming story about your experiences. It is great to see when women are given these chances to both contribute their remarkable skills to society and to grow as human beings.
 
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