Read about the news of our Swan-Yi program in English in the press release submitted by our donor, Coca-cola. "Swan Yi Marks Milestone with 12,000 Women Empowered in Myanmar" Coca-Cola Foundation’s USD 3 million grant to Pact supports economic empowerment YANGON, Myanmar, Aug 21, 2013 – The Coca-Cola Foundation, the global philanthropic arm of the Coca-Cola Company, is pleased to announce that Swan Yi, a program implemented in partnership with international NGO Pact, has reached 12,000 Myanmar women to date. Kicked off in July 2012, the three-year Swan Yi program aims to empower 24,500 economically disadvantaged Myanmar women to take control of their future by focusing on financial literacy, entrepreneurship and business management. Across hundreds of villages in eight townships in Yangon, Mandalay and Sagaing regions, Swan Yi establishes savings-led village banks by organizing women into groups of 20 to 25, complemented by training on the roles and responsibilities of members, the selection of group leaders, safe money handling, saving and loaning principles and practices. Based on Pact’s WORTH model, this award-winning savings-led finance program allows women to increase household- financial security and to build transparent savings and credit groups that empower them with the financial literacy needed to start microenterprises. WORTH loans are typically at interest rates seven times less than traditional money lenders, enabling these women to save more, allocate additional resources to family needs, further invest into their own businesses and gain economic independence. “I am encouraged and motivated to see the women in action, improving the livelihoods of their families and themselves by participating in the Swan Yi Program,” said Dr. Ei Thinzar Min Min Oo, Pact Swan Yi Program Coordinator. “I’m sure we will have more success in coming years, as these women entrepreneurs grow confidence in their ability to help other members of their family and their community.” The program motivates women to put aside resources to use their savings to generate interest, when lent out to group members in the form of micro-enterprise loans. This creates two important income streams: the money they earn through their individual and group enterprises, and the income generated through the dividends distributed back to the group at the close of each banking cycle. Swan Yi recently enabled a further 1,000 women to join the program in Myanmar, reaching the significant milestone of 12,000 participants. With further expansion plans, Swan Yi aims to establish an additional 500 savings and loan groups bringing the total number of participants to 24,500 by June, 2015. “The Coca-Cola Company’s 5 BY 20 program reflects a global commitment to enable the economic empowerment of five million women in its global vale chain by 2020. Swan Yi echoes these principles, and is putting in place a foundation that will have far reaching benefits for the women of Myanmar,” said Rehan Khan, General Manager of Coca-Cola Myanmar. “We look forward to providing opportunities for Myanmar women to grow and develop while building sustainable communities, alongside Coca-Cola in the country.” The total combined savings value of all Swan Yi groups, by the end of July, reached USD 124,260 with an additional USD 142,258 earned in interest. A sum of USD 220,105 has been distributed to members through 7,923 loans enabling them to develop new income-generation strategies and improve the livelihoods of themselves, their families and their communities. About the Coca-Cola Foundation Since its inception, The Coca-Cola Foundation has awarded more than $500 million in grants to support global sustainable community initiatives. For more information of the Coca-Cola Foundation, please go to coca-colacompany/our-company/the-coca-cola-foundation. About The Coca-Cola Company The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, the world’s most valuable brand, our Company’s portfolio features 16 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world’s largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of more than 1.8 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at coca-colacompany, follow us on Twitter at twitter/CocaColaCo or visit our blog, Coca-Cola Unbottled, at coca-colablog. About Pact Pact is a promise of a better tomorrow for all those who are poor and marginalized. Working in partnership to develop local solutions that enable people to own their own future, Pact helps people and communities build their own capacity to generate income, improve access to quality health services, and gain lasting benefit from the sustainable use of the natural resources around them. Based in Washington D.C., and at work in nearly 30 countries in Asia and Africa, Pact is building local promise with an integrated, adaptive approach that is shaping the future of international development. In Myanmar, Pact has been implementing health, livelihoods, community development, microfinance and food security programs since 1997. In partnership with USAID, DNIDA, Chevron, Coca-Cola, and more than 13,300 local organizations and community groups, Pact continues to carry out far-reaching projects throughout the emerging democracy. Pact’s WORTH model, an award-winning savings-led finance program, is at the heart of three projects implemented in Myanmar. WORTH enables women to build transparent savings and credit groups and empowers them with the financial literacy needed to start microenterprises. To date, 904 savings groups have been formed with almost 22,318 members. Today, Pact builds community resilience and resistance to shocks through livelihood and food security programs for vulnerable households.
Posted on: Wed, 28 Aug 2013 07:30:53 +0000
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