Kosovo’s new breadwinners targeted through microfinance loans
Half of Kosovo’s population are women and of these some 80% are unemployed - many of whom are widows challenged not only to care for their families, but generate an income to support them.
Twice as many women say that unemployment is their reason for dissatisfaction versus Kosovo\'s status Recognising both their desire and ability to earn an income that improves the well being of their families, particularly children, World Vision’s microfinance institution KosInvest has created a new loan product for vulnerable women-headed households.
Loans valued from US$300 to US$900 are being offered to women with a three to 12 month repayment period, together with lower interest rates compared to other KosInvest products.
Clients are using loans to purchase sewing and knitting tools and small livestock that will be used to generate produce and a steady income.
An anticipated 135 disadvantaged women in rural areas will be reached and 675 children impacted A total of US$100,000 is expected to be disbursed in loans to some 135 disadvantaged women in rural areas, benefiting some 675 children. KosInvest anticipates that 270 jobs will be created for other women.
“In Kosovo’s male dominated rural areas where KosInvest operates the toughest consequences of economic instability are shouldered by those families in which the male bread winner either passed away or was incapacitated, often as a result of war”, explained Rusudan Kharabadze, Director of KosInvest.
She added, “The whole burden weighs on women and children who suffer the most as they often lack proper nutrition, education as well as other necessities. Stigma is another obstacle for integration of these families which will be tackled with this new product”.
Stigma is another obstacle for integration of these families which will be tackled with this new product These loans are in addition to the thousands of loans already disbursed by KosInvest to women across Kosovo over the past few years for restocking, green houses, sewing and knitting, retail and fast food services among other ventures, which have all improved families’ diets and living conditions.
Initial feedback on the loans is already promising. KosInvest is now monitoring repayments and impact to gauge whether adjustments to the product are required, such as extended repayment periods in instances where households are particularly vulnerable.
Since 2001 KosInvest has provided services to some 5,900 clients with a loan portfolio of nearly US$4 million within three branches. There are currently 2,200 active clients, 50% of whom are women.
*Source: http://www.womenforwomen.org/kosovo.htm
Twice as many women say that unemployment is their reason for dissatisfaction versus Kosovo\'s status Recognising both their desire and ability to earn an income that improves the well being of their families, particularly children, World Vision’s microfinance institution KosInvest has created a new loan product for vulnerable women-headed households.
Loans valued from US$300 to US$900 are being offered to women with a three to 12 month repayment period, together with lower interest rates compared to other KosInvest products.
Clients are using loans to purchase sewing and knitting tools and small livestock that will be used to generate produce and a steady income.
An anticipated 135 disadvantaged women in rural areas will be reached and 675 children impacted A total of US$100,000 is expected to be disbursed in loans to some 135 disadvantaged women in rural areas, benefiting some 675 children. KosInvest anticipates that 270 jobs will be created for other women.
“In Kosovo’s male dominated rural areas where KosInvest operates the toughest consequences of economic instability are shouldered by those families in which the male bread winner either passed away or was incapacitated, often as a result of war”, explained Rusudan Kharabadze, Director of KosInvest.
She added, “The whole burden weighs on women and children who suffer the most as they often lack proper nutrition, education as well as other necessities. Stigma is another obstacle for integration of these families which will be tackled with this new product”.
Stigma is another obstacle for integration of these families which will be tackled with this new product These loans are in addition to the thousands of loans already disbursed by KosInvest to women across Kosovo over the past few years for restocking, green houses, sewing and knitting, retail and fast food services among other ventures, which have all improved families’ diets and living conditions.
Initial feedback on the loans is already promising. KosInvest is now monitoring repayments and impact to gauge whether adjustments to the product are required, such as extended repayment periods in instances where households are particularly vulnerable.
Since 2001 KosInvest has provided services to some 5,900 clients with a loan portfolio of nearly US$4 million within three branches. There are currently 2,200 active clients, 50% of whom are women.
*Source: http://www.womenforwomen.org/kosovo.htm
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