14 results · grouped by type
Community Savings and Credit Groups (GACC) in ColombiaProgram of self-managed savings and credit groups (Village Savings and Loans model, VSL) implemented in Colombia since 2012 in seven rural departments. Groups of 15-25 people, mostly women, meet every one or two weeks to save, approve internal loans and collect payments, without depending on an external microfinance institution.LISTA: digital financial education on tablets (Fundación Capital) in ColombiaTablet-based financial education application designed by Fundación Capital for recipients of conditional cash transfers (mostly low-income women). It helps organize savings, expenses and debts via videos, ATM simulators, budgeting and financial games; it works even for those who cannot read or write. It replaces expensive, hard-to-scale in-person trainings.Ingreso Solidario: digital cash transfers via mobile walletsUnconditional cash transfer program created in 2020 during the COVID-19 pandemic for poor and vulnerable households not covered by other social programs. Its innovation was massive digital payment via mobile wallets (DaviPlata, Nequi, Movii) and simplified accounts, opening close to one million new accounts. It reached about 4 million households. It ended in December 2022, replaced by Renta Ciudadana.M-PESA (mobile money)Mobile money service launched by Safaricom in 2007 that allows sending, receiving, storing and paying money from a basic phone via an agent network, without a bank account. It grew out of a pilot funded by DFID (Financial Deepening Challenge Fund) and scaled into national financial infrastructure. Suri and Jack 2016 document that it lifted ~194,000 households out of poverty (2% of Kenyan households), with ~185,000 women moving from farming to business.Table Banking by Joyful Women Organization (JOYWO)Community banking model in which groups of 15-20 women meet, place their money on the table and immediately lend it among themselves as loans, with no fees or collateral. Introduced by JOYWO on August 31, 2009 under a tree in Eldoret with 60 women, it scaled to 44 of the 47 counties and more than 240,000 members, with revolving funds of ~KES 3.4 billion and about 300,000 businesses supported.GiveDirectly's universal basic income in Kenya (12-year study)The world's largest universal basic income (UBI) experiment: since 2017 GiveDirectly has been transferring unconditional payments via mobile money (~US$0.75/adult/day) to villages in Siaya and Bomet. Village-level randomized design: long-term UBI (12 years, 44 villages), short-term UBI (2 years, 80 villages), lump sum (~US$500, 71 villages) and control (100 villages); 295 villages and ~14,474 households. Two-year results (NBER, Dec 2023) show economic and psychological improvements with no work disincentive.