The World Council of Credit Unions will pilot a Gender Lens Investment (GLI) methodology for credit unions worldwide to integrate optimal systems that can connect women with needed capital.
The GLI methodology pilot starting in Senegal is supported by catalytic capital from USAID INVEST, an initiative that mobilizes private capital for better development results.
“As community-centered financial cooperatives, credit unions are ideally positioned to deliver blended capital solutions that increase investment in women-led businesses,” said Brian Branch, WOCCU president/CEO.
World Council will conduct a gender-lens market survey analysis and design a “GLI Accelerator Kit”—a customized set of tools credit unions can adopt to better serve women entrepreneurs and women-led businesses. Increasing women’s access to capital offers the exciting potential of delivering both increased gender equity and financial returns.
World Council’s INVEST-supported activity will encompass the development, deployment and scaling of the GLI Accelerator Kit over three phases. After the research and market analysis phase is complete and the methodology is developed, WOCCU will identify credit unions in Senegal to pilot it.
During the pilot phase, World Council will refine the GLI Accelerator Kit, and build capacity at the national and local levels to apply it to credit methodologies. The pilot will aim to improve the readiness of credit unions to increase access to credit for women in Senegal. WOCCU will then work hand-in-hand with its Global Women’s Leadership Network (GWLN) in leading both national and local counterparts through the implementation of this activity.
Once the pilot program in Senegal finishes in August 2021, WOCCU will continue to disseminate the GLI Accelerator Kit for adoption by its global credit union members and through future economic development projects.