For women in savings groups, the group is just the starting point. CARE’s new annual report on savings groups shows how partners are connecting members to the skills, markets, and finance they need to grow their businesses.
Over the past 35 years, CARE has seen savings groups reach 31 million members across 67 countries. Together, they saved $1.8 billion in the past year alone. Partnerships are now building on that foundation to support women as they expand local businesses.
Women in savings groups are already saving, repaying loans, and growing their businesses. The report shows how a growing circle of partners is helping them go further. Local leaders are forming and supporting new groups in their own communities. Governments and banks in 16 countries are working with CARE on policies that help savings groups grow. Digital platforms and lenders are turning women’s reliable saving and repayment records into access to larger loans. Business support and market connections are helping their products reach new buyers. This support matters more than ever: 3 in 4 women in savings groups say crises like drought and floods are making it harder to earn a living.
“We no longer need to convince others that savings groups are worth investing in,” says Vidhya Sriram, Senior Director at CARE. “Governments, companies, and, most importantly, communities themselves are already doing it, at scale.”
Read the full report to see how these trusted connections are building a system that works for women and will keep working long after CARE steps back.
Read the report → https://www.care.org/our-work/economic-growth/savings-groups/annual-report/
