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By LAEJNet Staff Writer /[email protected]
With financial support from the Swedish-based NGO Kvinna till Kvinna, the Women in Agriculture for Sustainable Development (WASUDEV) has moved a step forward to announce the expansion of its Village Savings and Loan Association (VSLA) initiative to four additional communities in Montserrado and Margibi Counties. This initiative aims to empower more women in rural areas through improved access to financial services, fostering economic growth and sustainable agricultural practices.
The Executive Director of WASUDEV, Hawa Dunor Varney emphasized that the VSLA model provides women with the opportunity to save money, access loans, and receive training in financial literacy and business management. According to her, the expansion is set to benefit one hundred women, enhancing their ability to invest in agriculture, start or grow businesses, and improve their household economic stability.
In Liberia, access to finance is a major challenge facing women in rural areas. Most often, they do not have the required collateral to borrow money from traditional financial institutions, leaving them without the necessary resources to invest in their agricultural activities or start small businesses.
WASUDEV Executive Director indicated that the expansion of VSLAs is expected to have a profound impact on the new communities. “Women participating in these associations can pool their savings and take small loans to support various economic activities. This financial empowerment helps women invest in better farming techniques, purchase quality seeds, and adopt sustainable agricultural practices, leading to increased productivity and environmental conservation”
WASUDEV Team Lead also emphasizes the importance of capacity building in the success of VSLAs. According to her, new members in the additional communities will receive comprehensive training on managing savings and loans, financial planning, and sustainable farming practices. This education is crucial for ensuring that members can effectively utilize the financial resources available to them.
To ensure the success and sustainability of the expanded VSLAs, WASUDEV will implement robust monitoring and evaluation systems. These systems will track the progress and impact of the associations, identifying areas for improvement and ensuring that the goals of economic empowerment and sustainable development are met.
WASUDEV believes that expanding the VSLAs would contribute to reducing gender inequality and promoting women’s roles in decision-making processes within households and communities. “This initiative supports the broader goal of achieving gender equality and empowering all women and girls, in line with the United Nations’ Sustainable Development Goals”, Hawa Dunor Varney underscores.
This expansion marks a significant milestone in WASUDEV’s efforts to support rural women and promote sustainable development. With the continued growth of VSLAs, more women will have the opportunity to transform their lives and communities, building a brighter and more sustainable future for all.
Women in Agriculture for Sustainable Development (WASUDEV) is a Liberian-based non-profit organization dedicated to empowering women in agriculture through sustainable development practices. With the provision of training, resources, and support, WASUDEV aims to improve the livelihoods of women in rural areas and promote environmentally sustainable farming methods.
