Via a EUR 4.8 million equity participation in Women's World Banking, OeEB supports microfinance institutions with a particular focus on women.
Women's World Banking (WWB) is a non-profit organisation which has been active for almost 40 years and which aims to allow women with low incomes better access to financial products which they need to ensure their security and wealth. WWB Capital Partners Fund was founded to support microfinance institutions which in turn provide the relevant services.
50 million for 3 continents
The WWB Capital Partners Fund has a volume of around EUR 50 million. Until now, the fund has invested in microfinance institutions in India, Columbia and Bolivia. Other MFI in Asia, Africa and Latin America will follow. The partner institutions have a high percentage of women in management and specifically target women customers.
Blooming, thanks to microcredit
Indu Ramchandraa Waydande runs a market stall in Mankhurd West in Mumbai, where she sells colourful bouquets and wreaths made from fake flowers as well as clothes and fruit. For the microfinance institute Ujjivan, she is an excellent example of how a business can extend its product range to minimise economic risks. While a product is out of season, the businesswoman can still earn money from the sales of the others, which secures a steady cashflow.
Indu comes from a remote village and came to Mumbai with her husband, a textile worker. After he lost his job, they both began to sell clothes on a street stall close to the Mankhurd railway station in order to feed their four children. They soon extended their product range to include shoes. When a friend gave up his shop selling fake flowers, Waydande bought up the remaining stocks. It is a lot of work to put the flower bouquets together, but her customers appreciate the quality. The demand for flowers rises enormously during the festival season. After years of hard work, Indu Ramchandraa Waydande now owns a house near to the market.