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Bill Clinton visits local businesses that have benefitted from Banking on Change

President Bill Clinton saw first-hand the impact of savings-led microfinance programme Banking on Change, after visiting a community group taking control of its financial future in Dar es Salaam, Tanzania, accompanied by Barclays, Plan UK and CARE International UK, who established and manage the programme.

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This is the sort of thing that banking should be doing; it's about real people, taking out real loans, to do real things. Thank you to Barclays, Plan and CARE, and to the community for all you are doing. This sends out a great message to Tanzania, and to all of Africa.
Bill Clinton, Former US President

Barclays made the Clinton Global Initiative (CGI) Commitment to Action when launching Banking on Change at the CGI Annual Meeting in New York in 2009. The commitment was to improve the quality of life for poor people by enhancing, innovating and accelerating sustained access to savings and other financial services.

Banking on Change is the world’s first savings-led microfinance programme that combines the deep understanding of two leading NGOs with the financial expertise of a global bank to encourage extremely poor people to begin their path to financial inclusion through village savings and loans groups.

President Clinton visited the group, in the Vingunguti ward outside of Dar es Salaam, and saw how the members of the group have established a culture of saving regularly. Combined with financial and small business training, he heard how many have gone on to establish micro-enterprises. 

 

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