CIVA worked with Delhi-based Butterflies to develop a children’s banking programme which is run by the children themselves and targeted at street and working children.
The bank provides a safe place for the children to keep any money they have. But it also encourages saving and provides loans for older children who want to start an enterprise. The children are involved in running the bank and in decision-making on how it is run. They also volunteer, helping in tis outreach and promotion.
The original pilot project was set up in 2001 with Ford Foundation support. In 2003, CIVA agreed with Butterflies to set up more children’s banks in India and to pilot it in neighbouring countries. Funding was obtained from Comic Relief for this purpose, and the programme was officially launched at an event in Delhi in June 2004.
Today children’s banks are operating in India, Pakistan, Bangladesh, Nepal and Sri Lanka. In 2006 by mutual agreement, ChildHope took over CIVA’s role in managing the Comic Relief grant and supporting Butterflies.
For more information visit: http://www.butterflieschildrights.org/developmentBank.php