AusAID contributed $2 million to a microfinance project in Peru (Strengthening Women Entrepreneurship in Peru) in partnership with the Inter-American Development Bank through their Multilateral Investment Fund. Other contributing organisations include the lead implementing organisation Mibanco, Peru's leading micro loan organisation and international education and training institutions, including the Thunderbird School of Global Management.
This 4-year microfinance project provides financial literacy training and business development skills to poor women in rural and urban areas of Peru.
One component, known as 'Salta' (which translates to 'jumping out of the cycle of poverty through training and skill development'), provides workshops for 100,000 women micro-entrepreneurs in both urban and rural locations. In addition, over 2,000 women will be selected to receive one-on-one mentoring in their own businesses from Thunderbird School of Global Management candidates.
As at May 2012, over 62,000 women had attended workshops in financial literacy and business development.
The training to date has assisted these women entrepreneurs to better understand their own finances, increasing their confidence to explore and manage financing options as they become available.