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WILFund - Women's International Loan Fund
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What is the need?
According to the United Nations, HIV/AIDS “is fast becoming a disease that strikes younger women disproportionately.” In Africa AIDS is fast becoming a women’s disease—they account for 75 percent of those infected among 15- to 54-year-olds.
In many developing countries where HIV/AIDS is at its worst, widespread social gender inequality makes women extremely vulnerable to the disease. Impoverished women face the greatest risk—poor and powerless, they often become the victims of sexual exploitation. Microfinance gives women the economic power to resist unwanted sexual advances and can delay the beginning of sexual activity as a teenager.
It is difficult for women to climb out of poverty. They lack the opportunities to advance themselves economically and they are discriminated against when they try to launch a business. Without credit history or collateral, they do not qualify for traditional loans.
What is the solution?
To help women in impoverished countries tackle poverty and reduce their vulnerability to HIV/AIDS, World Vision created WILFund—the Women’s International Loan Fund—an initiative that provides loans to enterprising women in more than 40 impoverished countries. WILFund works by granting loans, rather than grants, to microfinance institutions (MFIs) that distribute the loans to women in need. The UN states that investing in women is a powerful way to fight poverty:
- Families benefit. When women have an income, they spend it on their families, providing them with nutritious food, improved living conditions, health care, and education.
- Communities benefit. With the success of their business endeavors, women create job opportunities for others within their community, thus stimulating the economy. And when loans are paid back with interest, the funds are available to be loaned again, multiplying the benefits in the community.
- Orphans benefit. In a recent program assessment in Uganda, women leaders in community banks were caring for over three orphans per person! Microfinance is an excellent way to sustainably provide for orphan care.
- Women are a good investment. They repay loans at a rate of 96 percent.
Project Objectives
- Provide women with business loans, ranging on average from $50-$100 (U.S.), enabling them to start businesses, purchase supplies and equipment, expand operations, market goods or services, and hire additional staff
- Teach loan recipients about HIV/AIDS awareness and prevention
- Offer vital job training and enhanced business skills to loan recipients
- Provide loan recipients with valuable technical support for their businesses
- Expand the capacity of MFIs to empower women: MFIs have a finite amount of grant capital available; therefore loans from WILFund increase the ability of MFIs to reach more female clients.
- Grow the fund over time through interest to ensure it becomes self-sustaining and available to as many women as possible around the world: WILFund generally lends capital to MFIs for a five-year period, after which time the original amount is repaid to WILFund with interest. Once the loan is repaid, WILFund is able to loan the capital to other MFIs in perpetuity. This process ensures that WILFund is able to grow over time, be recycled, and have a far-reaching impact on women worldwide.
Project Duration
Five years—Corporations may select a specific country from a list provided by WILFund
2005 Funding Needed
$100,000 per country engaged
Visit www.WILFund.org to learn more about how WILFund works
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