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  • Title: Savings and credit: women's informal groups as models for change in developing countries.
    Author: Wickrama KA, Keith PM.
    Journal: J Dev Areas; 1994 Apr; 28(3):365-77. PubMed ID: 12289881.
    Abstract:
    The aim of this research was to examine the financial success of newly formed women's groups involved in Sri Lanka's Hambantota Integrated Rural Development Program (HIRDEP). The project was initiated in July 1986 with 20 trained social mobilizers, who were each assigned to a village community of about 100 families. Mobilizers were selected from village volunteers involved in development activities. The study population included 78 women's groups, with an average size of 7 persons, from 19 villages with populations under the poverty level and people receiving food stamps. Measures of group performance included the exchange of labor among group members, the collective purchase of raw materials and consumer goods, and collective marketing. Service use was differentiated by extension services, inputs, assets, and general benefits. Financial activity was measured as the rupee size of the fund and amounts of loans. 54 groups were engaged in nonfarm activity, and most groups had women social mobilizers. About 50% of women's groups had received all four service types. Funding ranged from Rs. 240 to Rs. 9500. The average of the credit loans per month was Rs. 408 per group. 85% of the loans were used for production, investment, or repayment of old loans. Younger age groups affected the slower growth of funds but were more efficient in loaning money, acquiring services, and marketing activities collectively. Young social mobilizers were associated with efficiency of credit disbursement. Diversity of collective activities was related to the size and growth rate of funds. Multivariate analysis revealed that the growth rate of funds was primarily related to the personal income of members and the level of training of social mobilizers. Members were able to obtain loans equal to about 50% of their monthly income at an average interest rate of about 5%, which was three to four times less than normally available. 47% of the variance in the size of the fund was explained by average income, average member age, average length of time in existence, and education, experience, and training of social mobilizers.
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