OUR HISTORY

The idea for Women’s World Banking was conceived during the first United Nations World Conference on Women, held in Mexico City in 1975. At this meeting, ten visionary women from five continents articulated a simple but innovative concept: that providing small loans and other financial services to poor women entrepreneurs could be a major force in the global fight against poverty.

In 1976, under the leadership of founding president Michaela Walsh, Women’s World Banking was established with the mission of developing a global network of microfinance institutions to provide poor women entrepreneurs with the capital and information necessary to build viable businesses. In 1979, WWB was registered in the Netherlands as an international non-profit organization. Its founding Board of Directors consisted of eminent women leaders from a diverse range of cultures, women such as Ela Bhatt, founder and president of India’s SEWA, the world’s first and largest trade union for undocumented women workers.

During its pioneering first decade, WWB helped its network members evolve from fledgling grassroots organizations to become some of the top-performing microfinance institutions worldwide. In 1991, Nancy Barry became WWB’s second president. Over the next 16 years, Nancy spearheaded the successful expansion of the WWB network to include major banks, recognizing their potential as innovators in extending the reach of financial services to low-income populations.

Today, WWB provides support, advice, training and information to a global network of 53 microfinance institutions and banks in 30 countries worldwide. WWB network members offer credit and other financial services directly to 9 million poor entrepreneurs, 70% of them women. Another 14 million are indirect beneficiaries of the banks in the WWB network. Mary Ellen Iskenderian, WWB’s president since 2006, is a leading voice for women’s leadership and participation in microfinance. She is also a strong advocate for greater partnership between mainstream investors and the microfinance industry, and for responsible bank entry into this rapidly expanding sector.

In 2006, the global microfinance industry crossed a major threshold, reaching 100 million clients with financial services. During the same year, the Nobel Peace Prize was awarded to Mohammad Yunus and Grameen Bank. In 2007, founding WWB Board Member Ela Bhatt was chosen as one of “The Elders,” an historic group of world leaders and visionary thinkers convened by Nelson Mandela, Graça Machel and Desmond Tutu. Clearly, the global microfinance industry has come of age, and the general public and mainstream media have begun to recognize what Women’s World Banking has demonstrated for over 30 years: that when given access to financial services and information, poor women are reliable borrowers and dynamic entrepreneurs, whose economic empowerment will lead to higher standards of living across entire communities.

_{Women’s World Banking is registered in the Netherlands as an international non-profit organization. Its full name is Stichting (Foundation) to Promote Women’s World Banking, and is generally known as Women’s World Banking (WWB). Friends of WWB/USA, Inc. is a fundraising 501(c)3 entity registered in the United States.}