Economic Development

Economic Development

Our economic development program aims at creating a sustainable and financially inclusive society and to pull people out of poverty and moneylenders through ethical and participatory approaches. It nurtures credit and savings among the members and gives access to ethical and people‐friendly financial institutions. An affordable and easy accessible loan and flexible repayment scheme provides thousands of people with an opportunity to access financial means.

How do we intend to achieve this?

We support enterprise development initiatives though training in various skills and access to finance.#

Financial Inclusion

We are particular about ethical practices in finance and are sensitive to not only the needs of the group members but also to their overall financial well-being. Therefore, we have well-defined loan policies that record the purpose of a loan and ensure its timely repayment.

Why is this important?

Financial inclusion is a tool to empower the marginalised sections of society with equal access to affordable credits. This in turn gives them better access to basic education, health services and provides improved opportunities to start independent business ventures to achieve financial self-­reliance and economic independence.

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How does it work?

We provide access to loans and other financial services to our SHG members of women and men. One of the most important sources of our lending system is internal lending, raised from the monthly savings of AVAG’s SHGs members. For all external loan linkages the approval of the executive committee of the Federation is mandatory.