LightCastle Partners has joined forces with iDE to implement a transformative project aimed at empowering women who are out-of-work garment workers. Together, LightCastle and iDE will create tailored financial products and services that align with the unique needs and aspirations of the Oporajita project’s target group.
The Oporajita project, a Collective Impact Initiative, for the Future of Work in Bangladesh, is a project funded by the H&M Foundation, with the vision to enhance the employability of women garment workers (WGWs) and safeguard livelihood from the impact of automation and digitalization in the textile industry, aims to empower 1,500 out-of-work women garment workers who have undergone entrepreneurial and financial literacy training. These resilient women, eager to start their own ventures, often face daunting hurdles in securing financial support for their business aspirations. The lack of awareness about available financial products and the complexity of loan application processes have been significant obstacles.
With a shared vision of promoting gender equality, fostering entrepreneurship, and supporting women’s economic empowerment, LightCastle and iDE have joined hands to implement this groundbreaking project.
By leveraging their extensive knowledge in consulting and development work, LightCastle will play a pivotal role in ensuring the seamless execution of the access-to-finance component of the Oporajita project.
LightCastle’s involvement will be instrumental in the co-developing of customized financial products and screening criteria to identify eligible women entrepreneurs who will benefit from the customized financial offerings. Utilizing their analytical prowess, LightCastle will identify the most deserving and potential women entrepreneurs, making certain that the financial products align precisely with their needs and aspirations.
Furthermore, in a strategic collaboration with multiple financial institutions, LightCastle is poised to conduct 30 advocacy events and four loan disbursement events for the beneficiaries of the project. These meticulously planned initiatives will empower out-of-work women garment workers by equipping them with comprehensive knowledge about the diverse range of financial products available in the market.
The Oporajita project holds immense promise in unlocking the untapped potential of women garment workers, fostering entrepreneurship, and contributing to economic growth. With LightCastle’s strategic implementation and iDE’s guidance, the project is poised to bring about meaningful change in the lives of countless aspiring women entrepreneurs.
This collaboration serves as a testament to the power of partnership and innovation in the consulting industry. By combining their strengths, LightCastle and iDE are set to create a brighter future for the specific target groups, driving social progress and empowering communities.