Tomorrow, March 8, is International Women’s Day, a day set aside to celebrate the social, economic, cultural and political achievements of women. It also serves as a reminder that there is still a lot of work to be done to empower women and achieve gender equality, especially in developing countries where they are at greater risk of prejudice and gender-based violence. Women’s rights have come a long way since the first International Women’s Day in 1911 but we still have a long way to go!
Although different countries and different organizations have chosen differing themes for International Women’s Day 2023, they all revolve around the idea of equality and equity for women. Equality means giving all people equal access to rights and opportunities while equity refers to allocating resources based on the needs of individuals without bias or discrimination. That’s where Kiva comes in and why I’m choosing to focus on this non-profit micro-lending organization on International Women’s Day this year.
It’s all well and good to talk about the rights of women and the need for gender equality, but unless we’re willing to actually do something, that’s all it is. Talk doesn’t change anything! Change requires action, so what can you do? How can you make a difference?
Let’s begin by looking at some startling facts. Research shows that women typically invest a higher proportion of their earnings in their families and communities than men do, but in order to do so they need access to the full range of credit, banking and financial services. 740 million women worldwide, however, have little or no access to financial services. Because so many women are excluded from accessing financial assistance, it’s difficult for them to start businesses, pursue higher education, or improve their livelihood. Kiva aims to change that! Since 2017, the number of unbanked women has dropped by 24%. If this trend were to continue, the number of women without access to financial services could reach zero in less than 20 years!
More than 80% of Kiva loans go to women, women who have historically been denied access to traditional banking services. Kiva loans enable them to become financially stable, resilient, and self-reliant, allowing them to better support and protect themselves and their families from abuse, violence, and financial dependence.
So, why not celebrate International Women’s Day 2023 by making a loan to a woman in one of the 70+ countries on 5 continents served by Kiva? It’s easy, it costs as little as $25, and it makes a difference!
If you’re not familiar with Kiva, here’s how it works. Click here to choose a woman or group of women to support. Lend $25 or more to help crowdfund the full loan amount. As the borrower earns an income and begins to repay her loan, you and the other lenders who helped fund her loan are repaid. These funds go directly into your Kiva account. When your account reaches $25 again, you can relend those same dollars to support another borrower! It’s truly the gift that keeps on giving!
Since I made my first two loans in March of 2010, I’ve helped fund 83 loans in 31 countries. Though Kiva provides loans to both men and women, I choose to lend to women who are borrowing money to purchase specific items that they will use to generate income to help them support their families and educate their children. Over the years, I’ve invested in a variety of livestock, seeds and fertilizer, numerous sewing machines, fishing equipment, hairdressing tools, restaurant stoves and refrigerators, a mill for grinding corn, heavy duty washing machines, a portable food stall, and probably a few other items. I also helped renovate some rental properties earlier this year.
To mark International Women’s Day, I decided to make another loan this week. Since my Kiva account was standing at less than $2 (I always relend as soon as it reaches $25) that involved topping it up, but I was more than happy to put my money where my mouth is as the old saying goes. Just think of the difference that we could make for women worldwide if we each invested just $25!
After reading through several loan descriptions, I found the one I wanted to help fund this time. Shamsiya is a 28-year-old mother of 5 children living in Tajikistan. She recently learned to sew women’s clothing and was seeking a loan to buy a sewing machine and supplies to start her own business.
What are you doing to make a difference this International Women’s Day? Please let us know in the comment section below.