Partnership with CARE International
In 2019, Bloomberg Philanthropies partnered with CARE International to increase women farmers’ income and agricultural productivity through collective investments in Village Savings and Loan Associations in Tanzania.
Through this partnership, microloan organizations are trained and mobilized, and women farmers are able to tap into underutilized pools of capital to substantially impact production, consumption, and employment.
With the development of community-based savings, women farmers without access to traditional financial institutions are able to sell their products in the international market.
Since 2019, 29,000 Village Savings and Loan Associations in Tanzania have been mobilized, representing 700,000 members.