Women's World Banking
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Women's World Banking (WWB) is a non-profit organization, based in New York, whose mission is to expand the economic assets, participation and power of low-income women entrepreneurs by helping them access financial services and information.
To achieve this goal, WWB works to build an effective global network of microfinance institutions and banks that provide sustainable financial services to low-income women and their families. WWB also works to engage policy makers and other key actors to spur innovation in the expansion of financial services for low-income people.
Hundreds of millions of poor people worldwide—the majority of them women—support themselves and their families through entrepreneurial enterprises: selling something, making something, or providing a service. But without the credit and financial information needed to turn their enterprises into self-sustaining businesses, these hardworking women often remain trapped in poverty. During 30 years of pioneering work in the microfinance field, Women's World Banking has demonstrated that when given access to credit and other financial services, low-income entrepreneurs are resourceful, dynamic and bankable economic agents.
WWB supports a global network of more than 50 microfinance institutions and banks in 29 countries throughout Africa, Asia, Eastern Europe, Latin America and the Middle East, offering them a full menu of advisory services and veteran leadership in the mission to bring financial empowerment to poor women entrepreneurs.
WWB provides direct support to 28 microfinance institutions (MFIs)—the core Affiliates and Associates of their network—and partners with 24 financial institutions in the Global Network for Banking Innovation, which includes several major commercial banks. WWB also offers support to the Africa Microfinance Network (AFMIN), which consists of 21 country-level microfinance networks in Africa.
WWB's work is a partnership between their network of MFIs, their Global Team of financial experts and advisors, and their end-users: 23 million low-income entrepreneurs.
Based in New York City, the WWB Global Team works hand-in-hand with network members, offering them management guidance, training, technical assistance, financial products and services, and advice on how to impact government policies. WWB also promotes innovations in microfinance, enabling network members to better serve the needs of more low-income clients. As a result, many WWB network institutions have grown from small women's groups to respected microfinance banks. They are recognized for excellence within the microfinance industry and are creating models that are relevant and successful at the local and global levels.
WWB's network organizations provide poor women with key financial services ranging from small business loans to savings to health insurance. In doing so, they have shown that microfinance services for women have far-reaching impact: they increase family incomes, improve nutrition and health, raise education levels and, ultimately, reduce poverty across entire communities.
[edit] History
The idea for WWB was conceived during the first United Nations World Conference on Women, held in Mexico City in 1975. At this meeting, ten visionary women from five continents articulated an innovative concept: that supporting the entrepreneurial efforts of low-income women through small loans could be a major force in the global fight against poverty.
WWB was established in 1976 and incorporated in the Netherlands in 1979 as an international non-profit organization. Its full name is Stichting (Foundation) to Promote Women's World Banking, and is generally known as Women's World Banking (WWB). Friends of WWB/USA, Inc. is a fundraising 501(c)3 entity registered in the United States.
