The Female Financial Empowerment program was started in Myanmar using concepts from our Credit Union Development program. The aim of the program is to develop financial empowerment for women in rural areas and provide essential financial services.
Women in rural villages are empowered through support and education, this comes in the form of self-help groups. Participants are also provided access to financial services such as loans and savings account and taught business skills.
The program is currently operating in three rural villages in Myanmar, Tha Yet Chaung, Suk Su and Ywar Tan Shae Sout Win Gyi.
We recently spoke with Daw Kyi Pyar about her experience gaining financial empowerment in the program.
Daw Kyi, tell us a bit about yourself? I am 38 years old, living in Tha Yet Chaung Village with my husband and my young son.
What was your situation like before you joined the program? I didn’t know much about the importance of money before Cufa came to my village. I didn’t know why I should be saving and what I should be saving for.
How has your life changed since you joined the program? Since I joined my local community-owned bank in 2016 I have been constantly saving. I was able to take out a loan and use it for my business – a grocery store. I am now seeing the benefits as the profits from my store have been increasing steadily.
How else are you getting involved? I have attended all the training sessions provided by Cufa staff. They teach about savings, loans and more. It makes finance easy to understand for most households. On top of this, I convey the good news about my self-help group to my village and help explain to other villagers the benefits of savings.
Thanks for sharing with us Daw Kyi!
The Female Financial Empowerment program provides an opportunity for women in rural areas to collaborate and access a support group. Subsequently, financial empowerment for women is built through access to financial services, education and support but primarily also by coming together as a collective.