Option
CONTRIBUTION IN ORIGINAL LANGUAGE
Grow, Earn, Learn and Live | Tajikistan Women's Savings Group | Oxfam GB
Women's savings groups in rural communities in Tajikistan help women get loans to pay for repairs, land and more. For rural communities in Tajikistan, access…
Women's saving groups in rural communities in Tajikistan help women get loans for repairs, land, and more.
For rural communities in Tajikistan, access to traditional banking methods is limited. There are no affordable financial services, the required documents are very complicated, and business loans can carry up to 30% interest - making it almost impossible for people to start small businesses.
Oxfam worked with villages to set up women's savings groups to solve this problem. Each member pays between 5 and 50 somoni per month. The money is kept in a secure box with three locks: three members take care of a key so that it can only be opened when everyone is present. The women can then withdraw money as loans for repairs, land, small businesses, and even weddings. In the past, people had to rely on family and friends to borrow money.
The savings group program was established in 2017 and the response rate was very successful - 1800 members joined groups within one year. There are now over 2500 members; 95% women.
Oxfam acted to set up the groups but did not provide any equipment, the women were knowledgeable and now lead these groups independently of Oxfam.
