Africa-Press – Uganda. A new research by Carry American Relief Everywhere International (CARE), a Non-Governmental Organization that tackles the underlying causes of poverty and social injustice, shows that Parish Development Model can transform into a Parish Development Bank.
The research shows that Women Economic Empowerment practitioners believe that, with the right support, PDM initiative can transform into a viable PDM bank owned by Ugandans.
“This Parish Development Bank will have slightly more than Shs3.6 trillion capital within a period of four years,” the report reads in part.
It further states that such an initiative has the potential to influence and align current and future government and private sector programs to provide vulnerable people like women with long-term access to productive savings, credit and assets for growth.
These findings were revealed by Mr Edton Babu, the CARE international project manager during the launch of Deliver Women’s Economic Resilience through Enterprise and Market Systems project (DREAMS) on Friday.
“In Uganda, this $31 million (Shs116 billion) program aims at reaching out to 335,000 young women in two years. DREAMS provides a core package of evidence-based interventions to address the many interlocking challenges that face them,” he said.
According to him, the initiative indirectly increases income for 320,000 women through the provision of technical support to existing PDM and generating opportunities and productivity for women entrepreneurs.
He noted that the program will directly increase financial autonomy for 20,000 women through developing and testing innovative enterprise growth, and financial and digital inclusion models.
Mr Babu noted that the initiative is capitalizing on a critical moment in the country’s political and private sector landscape with increased investment in women’s economic empowerment and a growing consensus that economic growth should ensure women are equitably represented and benefited.
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