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#SILC

We establish and increase the effectiveness and impact on the Savings and Internal Lending Communities by strengthening their financial asset and improving the financial asset base of SILC members.

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2021 FEATURED PROJECT

Strengthening Savings and Internal Lending Communities (SILC) for Decent Work and Economic Growth.

PROJECT SUMMARY

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The 2021 UN theme selected for the 5th UN Environment Assembly is “Strengthening Actions for Nature to Achieve the Sustainable Development Goals.”
Based on the agreed theme, Miss Eastlands Organization has contextualized and localized its theme to “Strengthening Savings and Internal Lending Communities (SILC) for Decent Work and Economic Growth.” as an action geared towards youth empowerment in slums and informal settlements of Nairobi’s Eastlands. Our theme is founded on the eighth goal of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all Eastlanders. 2021 is also the International Year of Creative Economy for Sustainable Development. It is in this regard that Miss Eastlands Organization has come up with a goal and objectives that will connect and consolidate environmental actions within the context of sustainable development and give significant impetus to more effective implementation. The theme of Miss Eastlands®’s Pageant in 2021 will mobilize, motivate and energize individuals, partner groups and stakeholders into sharing and implementing successful approaches and nature-based solutions that contribute to the achievement of Kenya’s Green Growth and Employment agenda and the Sustainable Development Goals, particularly the eradication of poverty and the promotion of sustainable patterns of consumption and production.

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Project Goal

To establish and increase the effectiveness and impact on the Savings and Internal Lending Communities by strengthening their financial asset and improving the financial asset base of SILC members.

BENEFITS

STRENGTHENING FINANCIAL ASSET

SILC members are able to strengthen their financial assets. For example, evidence from various SILC programs show that 90% of members participating in SILC have been able to pay into the national health insurance scheme. It is important for households to make contributions to the national insurance premium, which often puts financial burdens on poor households. Thus, this program helps the members to select, plan and manage the Income Generating Activities (IGAs) to ensure sustainable access for households once grant funding has ended. SILC has been one mechanism that has enabled households to save toward critical needs, health care being one identified need in slums and informal settlements.

STRENGTHENING SOCIAL ASSET

Beyond the financial impact, SILC strengthens social assets. The SILC approach, through small group formation and inter-lending, builds understanding and trust among group members which leads to greater social cohesion in slums and informal settlements. Thus, in slums and informal settlements of Eastlands, participation in SILC groups will provide vulnerable youth with needed social connections with community networks, allowing them to build social assets that can help them work themselves out of poverty. SILC also serves as a platform whereby youth will break patterns of isolation and interact with other youth who are in a similar situation. On the broader community, due to SILC program, the participation and leadership of youth supports youth empowerment, gender equality in the context of integrated Income Generating Activities program. There will be more social enterprises, trades and circulation of money within the slums and informal settlements which will stabilize the economy of these areas for improved living standards.

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