Economic empowerment is thought to allow poor people to think beyond immediate daily survival and to exercise greater control over both their resources and life choices. For example, it enables households to make their own decisions around making investments in health and education, and taking risks in order to increase their income.
There is also some evidence that economic empowerment can strengthen vulnerable groups’ participation in the decision-making. For example, microfinance programmes have been shown to bolster women’s influence within the household and marketplace. The evidence also suggests that economic power is often easily ‘converted’ into increased social status or decision-making power.
We largely focus on the economic empowerment of girls and young women with experience of gender based violence or any other form – a key strategy in addressing gender inequality. More generally, the discourse on economic empowerment centers around four broad areas:
- a) The promotion of the assets of poor people;
- b) Transformative forms of social protection;
- c) Microfinance;
- d) Skills training