Loans for Women in Developing countries
Since ancient times loans for women have played a critical role developing the society socially, economically and even spiritually.
Whether she is a stay home mum (what is known normally as a house wife), a business woman or even a professional woman her impact is felt. In the recent years more of the governments in the developing countries have identified the potentials in the women and have sought to empower them economically by facilitating easy access to quick loans for women.
Women in the developing countries have had challenges with accessing the loans for women as they have no collateral to secure these loans for women. The governments have discovered the benefits of lending to the women which include the following:
Loans for women have improved standards of living
- Loans for women help women be able to generate reliable income which improves their standard of living and that of the entire family. Thy can comfortably afford the basic living necessity example food, clothing and shelter.
Loans for women lead to economic and political empowerment
- Loans for women enables women to be self reliant and therefore protect themselves from exploitation and abuse of any nature. In the developing countries women are prone to domestic violence and other abuses as they are not empowered economically.
- women are enabled to expand their businesses and therefore create job opportunities. This will enhance the economic growth of the country as the level of unemployment rate is reduced.
- When women become successful in business they will be able to share the knowledge with their peers, enhance the economical growth of a country. In other words to empower one woman is to empower a whole generation.
- With the growth in the business, apart from the ability to afford the basics women need in life they can diversify in their investments and become key players in decision making in the country.
- Loans for women boosts womens self esteem and therefore the women are able to participate in decision making in key sectors in the country run for political offices. This enables them to fully participate especially in policy decisions made which greatly affect the women.
Loans for women lead to better health for society
- The health of the family is directly related to the reliable income of the woman. They are able to access and afford the health facilities for themselves and even for the children who are prone to tropical diseases in the developing countries for example malaria and polio.
Women the world over and especially in developing countries need a voice and this can only be achieved when they are empowered economically by making loans for women more accessible.