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|INDICATOR 2: Total amount of savings made by impact population|
| Why this indicator? What will it measure and provide information for?
Access to financial services is a decisive factor in eliminating poverty and generating local development. Informal saving groups are a cornerstone of community social safety net and social entrepreneurship promotion, especially among poor women. These groups also offer a safe and convenient space for women to discuss and raise their voices on issues of concern in their communities. Informal saving groups are self-managed and do not receive any external funding. They provide their members with a safe place to save their money, access loans, and obtain emergency insurance. Thus, they also contribute to reinforcing women’s leadership and positioning them as key members of their community development mechanisms. This is important given our reliance on informal savings groups (VSLA) in many of our programs.
| What Sustainable Development Goal is the indicator connected to?
* SDG Goal 1
| Definition and Terms
Village Savings and Loan Association (VSLA): A group of people who save together and take small loans from those savings. The activities of the group run in cycles of one year, after which the accumulated savings and the loan profits are distributed back to members. The purpose of a VSLA is to provide simple savings and loan facilities in a community that does not have easy access to formal financial services.
| Data and information required to calculate the indicator
* Number of VSLA groups established
* Total membership of VSLA groups
* Total amount of savings
* Number of supported social small scale businesses
| Suggested method for data collection
Methodology would include CARE VSLA monitoring /routine monitoring and evaluation tools
* CARE VSLA functionality tool 2:
* CARE VSLA Form
| Resources needed for data collection
The quantitative and qualitative data collection, storage and analysis should be conducted by CARE and partners. Partners may include research / university partners. Data collection needs to be included in the monitoring and evaluation plan and budgeted for.
| Reporting results for this indicator: number of people for which the change happened
* Reporting Purpose: þBaseline þProgress þ Evaluation
* A change in the total amount of savings achieved by informal saving groups and individual members
| Questions for guiding the analysis and interpretation of data (explaining the how and why the change happened, and how CARE contributed to the change)
* Is your household a member of an informal saving group membership?
* What is the number of active informal saving groups?
* What is the total amount of savings the informal saving group has made for the most recent activity period?
* What are savings trends in your informal saving group?
| Other considerations
* Most rural informal saving group members rely on productive (farming, animal husbandry or petty trade based on farm/livestock products) incomes for their livelihood. Attention should be paid to the seasonal fluctuation of their incomes.
* FGDs can provide valuable qualitative information for better documenting the informal saving groups performances