Banmujer (another name is Banco de Desarrollo de la Mujer ( Russian: Women's Development Bank )) is a Venezuelan bank that provides financial services to the country's female population - as a rule, these are microloans issued to a group of nine women.
| Banmujer | |
|---|---|
| Year of foundation | 2001 |
| Location |  Venezuela Caracas |
| Key figures | Nora Castaneda (President) |
| Site | |
History
The Venezuelan President Hugo Chavez announced the start of the project on International Women's Day 2001 [1] . The bank was headed by economist Nora Castaneda [1] . On September 13, Banmujer issued his first loan. [2]
The bank’s policy is to provide small loans (on average, from 260 to 520 US dollars ) to groups of nine women at a small percentage (up to 6%). With the help of such loans, women open a small business, such as a bakery or hairdresser. Unlike other banks, Banmujer does not have regional representative offices - the bank employs women who travel to the poor areas of Venezuela and tell the locals about their services [1] . By mid-2012, Banmujer issued about 150 thousand loans worth $ 10.7 million [3] . Despite the fact that the bank’s services are primarily aimed at women, 10% of deposits were issued to men [4] .
In addition to providing financial services, Banmujer is also engaged in non-profit activities. The Bank conducts economic literacy courses, teaches how to properly dispose of the loan [1] .
The bank is often criticized by analysts who consider the project to be highly unprofitable [1] . Thus, the percentage of loan defaults for the first year of Banmujer's existence was 41%, and after a few years, although it decreased (26%), it still remained high. [one]
Notes
- ↑ 1 2 3 4 5 6 Kristen Walker. Venezuela's Women's Development Bank - Creating a Caring Economy . Coha . venezuelanalysis.com (June 15, 2008). Date of treatment May 12, 2015.
- ↑ Jim McIlroy & Coral Wynter. Celebrating five years of the women's bank . Green Left (November 6, 2006). Date of treatment May 12, 2015.
- ↑ Estrella Gutiérrez. Q&A: Microcredit Bank “Incorporates Women in the Benefits of Development” . Inter Pree Service (August 9, 2012). Date of treatment May 12, 2015.
- ↑ Reseña Historica (Spanish) . Banmujer. Date of treatment May 12, 2015.