Income, Savings and Asset Generation

Income, Savings and Asset Generation

The energy and resources of residents must be mobilised to sustain any development program, which is a long-term, incremental process. Savings, collective equity, and access to credit are critical for sustaining community improvements. Slum communities have demonstrated their ability to save and manage credit schemes themselves, often facilitated by self help groups and under the leadership of women from the communities. Communities have also demonstrated their ability take collective equity in community investments.  

CHF International-India supports savings programs, collective equity and expanded access to financial services for the poor who are excluded from formal sector credit. For example:

In Nagpur, Pune, and Bangalore, India: CHF International is facilitating beneficiaries of a housing scheme to save their 10% contribution required under JnNURM schemes. This is being done through self help groups organized by local NGO partners. CHF is also forming housing cooperatives amongst residents to manage their new apartment buildings.

Bangalore, India: CHF International’s grantee LabourNet has established a partnership with a local bank that allows informal construction and domestic workers to open bank accounts when they become members of LabourNet. LabourNet has also facilitated loans from this bank to support workers procurement of tools and other needs.