Partnership with CARE
In 2020, Bloomberg Philanthropies partnered with CARE to increase women farmers’ income and agricultural productivity through collective investments in Village Savings and Loan Associations in Tanzania. Building on the success of the program, which mobilized 29,000 Village Savings and Loans Associations in Tanzania, the partnership was expanded in Tanzania, Rwanda and the Democratic Republic of the Congo reaching 150,000 more farmers.
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.
This expanded program is projected to have a secondary impact on more than a half million families and community members.