Planet Finance France

Latet Atid

Supporting Israeli women entrepreneurs in the periphery through microfinance

---

Project Status: Start Q1/2012

With 25% of all Israelis living under the poverty line while 67.7% of them are employed, figures clearly indicate that employment alone is not a way out of poverty. However these disturbing facts are magnified in the case of low-income women in the periphery, often the sole breadwinners for their families. Their attempts to provide for themselves and their children are further limited by little or no education, difficulty commuting and the extremely centralized nature of the Israeli banking system that practically eliminates the possibility of these women receiving reasonably termed credit.

In 2009, based upon the success of microfinance programs around the world, and with the help of PlaNet Finance Israel's assistance, Latet launched 'Latet Atid (Future in Hebrew)' - a microenterprise-building program to provide 'near poor' women with the professional and personal tools required for opening and managing their own microenterprises, achieve financial independence and serve as role models for their families and community. In addition, qualified program graduates receive microloans for the establishment of their microbusiness (e.g. cooking, handcrafts, childcare, beauty industry, cleaning services, etc.).

The project proposes to improve the lives of underprivileged women by providing them with the professional and personal tools, mentorship and loans required to open and manage microbusinesses to achieve financial independence and break out the cycle of poverty.

The project aims:

• To help Latet Atid develop adapted financial solutions for women excluded from the formal credit system

• To empower underprivileged women in the periphery to set up and manage microbusinesses.

• To create job opportunities within the community.

 Download CN Latet Atid- Women Microentrepreneurs in the Urban Periphery