The Odisha government and the United Nations Capital Development Fund (UNCDF) have inked an agreement to empower women economically and promote gender equality through the Mission Shakti Living Lab.
The Living Lab is a collaboration between the State government and the United Nations Development Fund's Centre for Financial Health.
On December 13, Sujata R. Karthikeyan, Commissioner-cum-Secretary, Department of Mission Shakti, and Preeti Sinha, Executive Secretary, UNCDF, signed the agreement virtually.
According to a press release, the alliance would employ digital technology and India's growing e-commerce industry to overcome barriers that impede women's access to financial security, autonomy, and financial freedom. It would provide access to digital financial services and improved financial health to 3.5 million SHG women members and low-income consumers.
It will assist 10,000 women-led microbusinesses in gaining better access to affordable market opportunities, capital for business promotion, and market solutions to improve linkages. The programme will strengthen SHG members' and households' ability to plan, save, borrow, and spend more effectively, ultimately enhancing the financial well-being of their women.
Mission Shakti was founded in 2001 to support women's holistic development, but it has evolved into a revolution and has become synonymous with women's empowerment and autonomy.
Mission Shakti's current activities have played a critical role in determining the financial destiny of women SHGs in Odisha. The 5T mandate has also encouraged rapid decision-making, teamwork on convergence mode, transparency measures, and technological integration, setting the door for dramatic change in Odisha's women empowerment.
“Economic empowerment of women is critical to the state’s growth and today we have a real opportunity to use new technologies to increase women’s participation in the economy. The partnership between Mission Shakti and UNCDF’s Centre for Financial Health is timely and crucial to accelerate the access to digital services that can increase women’s income and financial well-being,” said Karthikeyan while signing the agreement. In Odisha, Mission Shakti’s efforts have led to incremental increase in income of SHG members from INR 3,000 to 15,000 per month, she added.
