Belstar Investment and Finance Private Ltd - Microfinance for women’s self-help groups
Belstar Investment and Finance Private Ltd
Microfinance for women’s self-help groups
Belstar Investment and Finance Private Limited (BIFPL) is a microfinance institution (MFI) providing financial services to women with low incomes. BIFPL grew out of the Hand in Hand initiative, a charitable trust aiming to eradicate child labour and empower women. In order to be able to grow, Hand in Hand bought BIFPL in 2008.
BIFPL has a strong focus on underdeveloped regions and vulnerable communities. It endorses and has implemented the Client Protection Principles. It has good systems in place to evaluate the repayment capacity of its clients, good disclosure, and well-established feedback and grievance redressing systems.
Oikocredit chose to give a loan to BIFPL because it provides microfinance to women in very vulnerable conditions. At the same time, however, these women participate in self-help groups. BIFPL does not take savings, but it does encourage saving.
BIFPL will use Oikocredit’s loan to reach more clients.