The Women's Development Bank (Spanish: Banco Nacional de la Mujer or Banmujer), 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 first President was Nora Castañeda.
The bank provides small, low-interest loans, known as micro-credit loans, ranging from 500,000 to 1,000,000 bolívares (500 to 1000 bolívares fuertes, US$260 to $520) 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 PresidentHugo Chávez, by promoting community solidarity over individualism, which is associated with capitalism. The bank has provided over 40,000 such loans since its establishment. The bank also offers financial advice to women, and serves as a consultant in the formation and development of business projects.
Non-financial servicesedit
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.
The Bank is distinct from other banks in that it does not have branch offices; rather, it consists of a network of supporters who visit 149 impoverished and over-populated areas on a weekly basis, and offer the bank's services to women who otherwise would not have access to banking services. Bank members also make house calls.
The Bank attempts to promote self-sufficiency, by minimizing the requirements to receive a loans. The bank offers direction to encourage the success of women's projects, but does not dictate how their businesses should be run. This presents a challenge to many marginalized women who are illiterate. In instances where women are illiterate or otherwise have difficulty in overseeing a business venture, a female family member or friend will oversee the project until the woman becomes literate. The Bank also directs women to Mission Robinson, a literacy campaign launched by Chávez's government.
"Banco de Desarrollo de la Mujer". Ministerio del Poder Popular para la Economía Comunal. n.d. from the original on 24 September 2008. Retrieved June 22, 2016.
Interview with Nora Castaneda, President of the Women’s Development Bank, In Motion magazine, April 30, 2005
October 28, 2023
women, development, bank, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, includes, list, references, related, reading, external, links, sources, remain,. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article includes a list of references related reading or external links but its sources remain unclear because it lacks inline citations Please help to improve this article by introducing more precise citations October 2017 Learn how and when to remove this template message Some of this article s listed sources may not be reliable Please help this article by looking for better more reliable sources Unreliable citations may be challenged or deleted November 2014 Learn how and when to remove this template message Learn how and when to remove this template message The Women s Development Bank Spanish Banco Nacional de la Mujer or Banmujer 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 first President was Nora Castaneda Women s Development BankNative nameSpanish Banco Nacional de la MujerIndustryBankingFounded2001 22 years ago 2001 Key peopleNora Castaneda president Contents 1 Financial services 2 Non financial services 3 See also 4 References 5 External linksFinancial services editThe bank provides small low interest loans known as micro credit loans ranging from 500 000 to 1 000 000 bolivares 500 to 1000 bolivares fuertes US 260 to 520 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 The bank also offers financial advice to women and serves as a consultant in the formation and development of business projects Non financial services editThe 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 The Bank is distinct from other banks in that it does not have branch offices rather it consists of a network of supporters who visit 149 impoverished and over populated areas on a weekly basis and offer the bank s services to women who otherwise would not have access to banking services Bank members also make house calls The Bank attempts to promote self sufficiency by minimizing the requirements to receive a loans The bank offers direction to encourage the success of women s projects but does not dictate how their businesses should be run This presents a challenge to many marginalized women who are illiterate In instances where women are illiterate or otherwise have difficulty in overseeing a business venture a female family member or friend will oversee the project until the woman becomes literate The Bank also directs women to Mission Robinson a literacy campaign launched by Chavez s government See also editBolivarian Revolution Economic policy of the Hugo Chavez governmentReferences editExternal links edit Banco de Desarrollo de la Mujer Ministerio del Poder Popular para la Economia Comunal n d Archived from the original on 24 September 2008 Retrieved June 22 2016 Interview with Nora Castaneda President of the Women s Development Bank In Motion magazine April 30 2005 Retrieved from https en wikipedia org w index php title Women 27s Development Bank amp oldid 1171899088, wikipedia, wiki, book, books, library,
