Economic Development at World Vision
There are three Economic Development Project Models that have been endorsed by the Global Centre for use throughout the World Vision Partnership and three models in pilot phase. Each model has been developed by and for World Vision, to suit our way of working.
1. Local Value Chain Development (LVCD): Local Value Chain Development helps small farmers increase their incomes through better engagement with markets and by building relationships with service providers that can help them overcome market barriers
2. Savings Groups (SG): Savings Groups focus on savings as accumulated capital, not credit. They facilitate savings, insurance and credit services in a small-scale and sustainable way to members who are traditionally outside the reach of formal financial institutions. They enable community members to plan ahead, smooth consumption, cope with household emergencies and invest in their livelihoods.
3. Business Facilitation (BF): Limited employment opportunities make it difficult for people to earn an income and provide for their families. Business Facilitation assists families to develop their own small business or enterprise and provides training and support to help them grow
4. IMPACT Clubs (for adolescents aged from 12-17): The IMPACT Club model is a holistic and integrated approach to adolescent engagement that fosters the skills, behaviours and attitudes necessary for participation in social, civic, and economic life. The IMPACT Club model encourages the development of confident, self-aware and resilient young people who contribute positively to their communities via youth led community projects.
5. Skills and Knowledge for Youth Economic Empowerment (SKYE Clubs) (for youth aged from 16-24): The SKYE Club model is an integrated approach to helping disadvantaged youth develop the skills, behaviours and attitudes necessary to obtain sustainable livelihoods and participate constructively in their communities. This is achieved through group based training and support services.
6. Microfranchising: Microfranchising allows community representatives to earn an income by selling products, provides a community with access to a socially beneficial product they couldn’t get before and product providers gain access to an emerging market in a cost-effective way.