By Melissa Gaynor | Safe Savings for Adolescent Girls in Bangladesh
A key aspect of Kishoree Kontha project is financial literacy, supporting adolescent girls to make decisions about investments in income-generating opportunities and continuing education. The financial literacy component of the project provides an important opportunity to explore savings with adolescent girls.
As the girls involved in the project learn more about financial literacy and value investments in education, personal hygiene and income-generation opportunities, interest in savings will grow. Already many girls are saving, but most often put their savings in boxes made of dried mud or in bamboo, which puts their savings at risk.
To enable adolescent girls to be viewed less as burdens and more as contributors to both households and communities, the Nike Foundation has provided additional funding to Save the Children to complement the existing program with a savings component in those areas that are currently receiving Save the Children’s set of financial interventions. Project staff will work with a minimum of 5,000 girls and the financial sector to develop safer savings and investment options during three program cycles. Save the Children will explore partnerships with existing banks and microfinance institutions. The project will explore both individual and group savings and investment mechanisms
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