Project profile — Financial Literacy and Business Development Services for Women

• Pakistan (100.00%)

• Banking And Financial Services: Education/training in banking and financial services (24081) (100.00%)

• Disability (not targeted)
• ICT as a tool for development (not targeted)
• Climate Change Adaptation (not targeted)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Desertification (not targeted)
• Indigenous Issues (not targeted)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (not targeted)
• Gender equality (principal objective)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Urban issues (not targeted)
• Climate change mitigation (not targeted)

This project aims to increase women's participation in informal and formal economic activities by providing them with financial literacy training and access to business development services. In the long-term, this project enables low-income households to raise their incomes, increase their savings, and reduce their vulnerability to future economic shocks, by providing women with skills and knowledge that help them make financial decisions. It also helps these households to better provide for their children and access services such as education and health care. The project provides training for women on savings, budgeting, debt management, and financial transactions. The creation of business incubation labs across the country also provides women with training in business development and management skills. In addition, the project supports the development of public service messages and television series to educate the general population about financial decision-making, as well as theatre programs to promote women's rights and increase acceptance of their economic contribution to the household. Specifically designed, the Basic Financial Literacy program, the Systemized Financial Education program, and the Business Incubation Lab Program help develop and enhance the financial and business acumen of participating women micro-entrepreneurs. Project activities include (1) financial education for women micro-entrepreneurs, including basic financial literacy, systemized financial education, and helping women have access to business loans; (2) creating business incubation labs to help women with market linkages, business innovation and marketing techniques; (3) providing gender empowerment interventions including gender trainings for women, men and boys; and (4) community-level outreach on gender equality awareness through social theatre performances and the production of television dramas with public messages centred on gender equality and women’s empowerment.

The expected outcomes for this project include: (1) reduced economic vulnerability of clients, following improved financial and business management knowledge; (2) increased incomes, financial opportunities and business expansion for women entrepreneurs; and (3) increase attention from the general public in Pakistan on the importance and role of women in social and economic spheres to help change negative attitudes and beliefs towards women’s economic empowerment.

Results achieved as of the end of the project (November 2016) include: (1) 1,484,038 women clients trained in Basic Financial Literacy and Systemized Financial Education, and 452,206 women entrepreneurs trained in Business Financial Services. Training included key aspects of banking, such as saving, borrowing, transacting and the rights and responsibilities of microfinance clients. This resulted in business growth, increased earnings and savings for women beneficiaries; (2) 25,119 women graduated from the Business Incubation Labs Program with increased knowledge in business innovation, marketing techniques and market linkages. This allowed women to participate in peer-learning and networking activities that helped improve sales and gross profits; (3) 192,443 clients in financial education trainings received advice and help on debt management and the basics of borrowing to help them access micro-business loans. These loans, available through The Kashf Foundation’s microfinance service provider program, target low-income households and women-led micro-small and medium-sized enterprises; (4) trained 85,014 men and 64,731 adolescent boys on gender equality to create male champions of change at the community level, helping to create a supportive environment for women’s empowerment; and (5) developed and produced two socially motivated drama series that aired on Pakistan’s most popular drama channel, Hum TV. The storyline consisted of public messages against harmful social practices detrimental to gender equality, such as early, forced and child marriages, and encouraged women’s economic empowerment and positive contributions to their local communities. These results have significantly improved financial management skills, business returns and decision-making abilities of the women participating in the training. As a result, women who benefited from the project received higher earnings and savings. Moreover, media awareness campaigns and community-level interventions such as social theatre performances and gender training with men and boys, have helped change mindsets around women’s economic role and gender stereotypes across Pakistan.

• Proactive disclosure