INT/Core funding to Women's World Banking (WWB) 2014-2016

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

Women's World Banking (WWB) is an international non-governmental organization that coordinates the global network of 39 microfinance institutions (MFIs) in 28 countries. The WWB advances poor women's and their families' empowerment in developing countries, income-generating activities and inclusion by improving women's access to financial services, related information and markets and by developing financial services. The WWB develops the capacity of the MFIs and designs financial products and services to meet customers' needs in cooperation with the MFIs. The WWB's Strategic Plan (2014-2016) includes 5 key strategic priorities with which it aims at contributing to its long-term vision: 1) Understand women's preferences, behavior, and needs related to financial performance; 2) Develop, scale, and replicate products/services; 3) Strengthen institutional leadership to increase women's financial inclusion; 4) Influence the sector and better serve the network through knowledge; and 5) Build the business case for women. The particular strength of the WWB is its focus on poor women. The WWB both recognizes the role of women as economic actors and emphasizes the importance of the women's economic empowerment for households and communities. Successful women can show an example to others. Women's empowerment also enhances gender equality. According to the independent evaluation on the WWB, the WWB has extensive, broad-based positive impacts on the economic and social empowerment of women, the innovativeness, economic sustainability and product and service palette of the microfinance institutions which offer inclusive financial services particularly for women, as well as the development of the entire microfinance sector. Furthermore, the WWB has exceeded the ambitious targets in 57 percent of its own monitoring indicators. WWB will be granted 2 000 000 euros for 2014-2016. Finland has previously funded WWB with the amount of 1 800 000 euros during the years 2011-2013.