Sri Lanka
In 2009, WOCCU began working with the Women’s Development Co-operative Society (Women’s Co-op), a network of more than 120 branches owned and operated entirely by women. The partnership aims to strengthen the institution, expand membership and help increase the agricultural capacity of Sri Lankan women farmers and their families by providing them microloans and access to savings accounts. Together, WOCCU and Women’s Co-op will improve the lives of the country’s rural poor.
As of September 2010, through WOCCU’s partnership, Women’s Co-op has reached a membership of more than 63,048 women. Currently more than US$7.1 million has been mobilized in savings. WOCCU has been working with Women's Co-op staff to strengthen the system. In the third quarter of 2010 net institutional capital turned positive and deliquency dropped from an earlier high of 20% down to 2.6%. Another positive indicator is that total assets has grown by 39% reflecting the positive growth in savings, members' shares, institutional capital and external credit.
