October 31st is not just about Halloween; it’s also about savings. October 31st was established as World Savings Day in 1924 to promote savings globally. Today also marks the end of Grameen Foundation’s four-year, $9.78 million savings project funded by the Bill & Melinda Gates Foundation. The project was created to help increase the number of active savers throughout India, the Philippines, and Ethiopia, particularly those below $1.25/day.
We’re pleased that we helped our partners reach 850,000 new active savers. We’ve also learned a lot over the last four years that can benefit others. On October 22, we held a Savings Seminar in Washington, D.C. to convene 70 practitioners to discuss learnings, best practices, and things we’d do differently in future programs. While we planned extensively for this project, things do not always go as planned.