Combatting Poverty through Micro-Finance
The potential for empowering women is intimately related to their financial independence. This led FEMAP to develop the Economic Development program in 1987. The goal is to help those living in poverty (especially women) to improve family income, and in turn, improve their quality of life. With the financial help of USAID, the program disbursed $77,400 through 2,384 loans. 2014 Outcomes:
- 1,565 new businesses which generated 1,890 additional jobs
- 4,690 people benefited
- 85% of the loan reciepients were women
- $486 US average microloan amount
In 2014, The FEMAP Foundation provided $10,000 to the Micro-Finance program for loans.