Microcredit is the most visible innovation in anti-poverty policy in the last half-century, and in three decades it has grown dramatically. Now with almost 130 million borrowers, microcredit has undoubtedly been successful in bringing formal financial services to the poor. Many believe it has done much more, and that by putting money into the hands of poor families (and often women) it has the potential to increase investments in health and education and empower women.
In Burkina Faso, many women are working together to create and sustain microfinance institutions, a banking system for those excluded from traditional forms of banking because they are economically impoverished. These institutions let people obtain loans to start up a business or create a way to save money.
According to The World Factbook, agriculture employs 90% of labour force in Burkina Faso making it a crucial area in which to address any issues and to work to enhance the processing and commercialization of agricultural goods, and increase sales.
Many microcredit programmes already integrate environmentally friendly practices into their daily operations.
Through community savings programs women are able to launch and develop income-generating business activities, or deal with an emergency situation.
Besides, many of these women also get trainings that enable them to develop their income-generating activity and to be more autonomous.
This story is part of Microcredit.