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LIVELIHOOD SUPPORT
WHAT WE DO
LIVELIHOOD - SUPPORTING COMMUNITIES TO DEVELOP SUSTAINABLE INCOMES
HOPE Sri Lanka livelihood programs aim at improving the standards of living of the rural and urban poor to enable them live an empowered and dignified life. We empower communities to create sustainable livelihoods through formation of community owned and led groups. In these groups among other skills, we foster financial literacy so that the poor can make informed decisions regarding their saving, investment and spending patterns.
COMMUNITY MANAGED SAVINGS GROUPS
We strive to boost financial literacy among the poor so that they can make informed decisions regarding their saving, investment and spending patterns.
THE PROBLEM
Using the collective power of community to drive financial literacy
Livelihood among the rural and urban poor in Sri Lanka continues to be a need that calls for attention. Poor communities struggle to get jobs from which they can earn a decent income to afford a meal, support their families, improve household status and take their children to school.
OUR RESPONSE
The Community Management Microfinance (CMMF) methodology is an appropriate community-based mechanism of promoting financial literacy. The practice of ploughing back part of profits saved in a particular round has ensured continuous growth of the saving and lending capacity. With the accumulated savings the groups have been forced to seek financial institutions to keep the excess funds in their possession, which has led to economic inclusion of members.
CMMF groups have led to social-economic empowerment of women in rural communities, they have facilitated creation of marketing and business networks where beneficiaries are using the saving group platform to market their products both within and out of the group.
