The Women's Development Bank
The '''Women's Development Bank''' , was established in Venezuela in 2001 to remedy the political, economic, and social disadvantages faced by women. The Bank offers both financial and non-financial services to women. The latter is revolutionary and distinguishes the Bank from other banks.
The bank provides small, low-interest loans, known as micro-credit loans, ranging from 500,000 to 1,000,000 bolivares per woman, for the establishment of business ventures. Loans are not granted to individuals, but rather to groups of five to ten women. In this manner, the bank is ideologically aligned with President Hugo Chavez, by promoting community solidarity over individualism, which is associated with capitalism. The bank has provided over 40,000 such loans since its establishment. These loans have been responsible for the creation of more than 70,000 jobs. The bank also offers financial advice to women, and serves as a consultant in the formation and development of business projects.
The Women's Development Bank also offers a number of non-financial services. The bank provides administrative training for aspiring female entrepreneurs, as well as workshops on personal development, self-esteem, family planning and health. The workshops encourage dialogue within the community and stimulate a greater involvement of women in politics.
Women in the Bolivarian Revolution, Part 2: The Bolivarian Response to the Feminization of Poverty in Venezuela
Interview with Nora Castaneda
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