By | Desjardins
In Bolivia, Desjardins International Development (DID) works in collaboration with Pro Mujer to promote the development of female entrepreneurship and gender equality in the regions of La Paz and Cochabamba. Fempresa is one of the many projects DID has rolled out across the world with the goal of strengthening the economic autonomy of the people and communities the organization reaches.
Economic autonomy is the capacity for people to cover their own needs as well as the needs of those who depend on them and to decide the best way to do it.
It is an essential condition for development. It is essential for all people, especially women, to have the ability to become more resilient in the face of risk (climate, economic, or other), to have access to healthcare and education, and to have enough food. It is also essential for starting businesses and creating decent jobs. The process of becoming economically autonomous creates a domino effect that produces many benefits, not only for women, but also for families, communities and entire countries.
¿How do we strengthen economic autonomy?
Economic autonomy rests on three pillars: long-term access to adapted financial services, and strengthening of financial knowledge, and control of one’s finances. DID addresses these three dimensions.
Adequate access to financial services
Financial inclusion consists of bringing safe and affordable access to necessary everyday financial services: a bank account, appropriate payment methods, credit and savings products, and insurance for protecting wealth.
Sufficient financial knowledge
The goal of financial education is to develop a person’s knowledge and abilities (including digital abilities) for making informed financial decisions. It helps eliminate restrictions in the use of financial products and services and promotes safe financial behavior.
Controlling one’s own finances
Economic autonomy means having the possibility of managing one’s own finances and deciding how to allocate one’s own financial resources. By strengthening economic autonomy, people can exercise their leadership fully and improve their social and economic position.
The many facets of economic autonomy
Dora Amaya grows coffee and bananas in the Colombian town of Andes. As well as working on her own land, Dora regularly helps other producers in the region. Thanks to the help she received from DID’s Profem project, this formidable rural entrepreneur was able to obtain a loan and thereby access better supplies, to improve the quality of her coffee and bananas. She also invested part of the money in purchasing a home, where she now lives with her four children and four grandchildren.
Ms. Graciela, from the town of Arbieto in Cochabamba, Bolivia, shared these comments: “On the topic of DID’s business workshops, I wanted to say that they helped us a lot.” “The told us how to open a bank account, what it’s for, how we can save money, and how we can request a loan. This training helped me organize my finances.” Thanks to these workshops, Graciela has been able to invest in the production of handicrafts and has the goal of opening a savings account to continue growing her business.
Irene Ramírez, owner of a recycling company that buys and sells industrial byproducts, takes care of the environment and contributes actively to the social and economic development of her city. “I started out with nothing. And, if I am here today, it is thanks to the loans I was able to get,” she explains. “We are all responsible for the environment. We all have a part to play.” Thanks to her leadership and the loan she received, Irene has created ten direct jobs and over 300 indirect jobs in her community. Her company, which initially recovered 9.6 tonnes of byproducts a year, now collects 450 tonnes.
About DID
For over 50 years, DID has been strengthening the economic autonomy of vulnerable populations. Through its technical assistance and impact investment projects, DID supports individuals in developing their financial knowledge, their confidence, and their leadership. It also supports financial institutions in strengthening and adapting their methodologies and service offerings and it supports governments and other ecosystem actors in making the system more open and inclusive. Since 1970, DID has carried out over 725 projects in 82 countries in collaboration with various partners, such as Pro Mujer, with whom they will work in Bolivia to promote adequate access to financial services and financial knowledge so the women there may gain control of their finances.
