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An interview with Women's World Banking's CEO Mary Ellen Iskenderian in Dowser.org
An accomplished woman in Finance, Mary Ellen worked at Lehman for four years out of business school, and then jumped to the World Bank where over 17 years, she worked to stimulate the private sector in developing countries for the sake of alleviating poverty. Today, she is the President and CEO of WWB, a provider of training and support services to microfinance institutions that serve more than 20 million people, mostly women.
Some highlights from the interview below:
"Dowser: What exactly does Women’s World Banking do?
Iskenderian: We’re a network of over 40 microfinance institutions, including some banks. Combined, our members have 23 million clients and a loan portfolio of over $4 billion. Our members provide very small business loans to poor people. About 70% go to women. We help our members set up and improve their operations. Plus, because of our size, we can access capital markets for them that they couldn’t otherwise tap.
You also want to help poor women save money.
We do. Given the chance, poor women are very good savers. If business is slow, or a child gets sick, a little savings can keep her business on track. This has tremendous potential to help women become economically stable. Providing savings programs for poor women is a trend that we hope becomes the norm.
Why focus on women, though?
When women have money they invest it more wisely then men. Women spend their money on nutritious food, schooling for their kids, health care, improving their homes. That has a positive ripple effect on the community, both economically and socially. And women pay their loans back at a higher rate than men.
Read more here.
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