Sarathi- Progress through Financial Inclusion is a 36-month (January 2018- December 2020) financial inclusion project, jointly funded by MetLife Foundation and Swisscontact, and is working with commercial banks and Ready-Made Garments (RMG) factories to bring RMG workers, especially women, within the sphere of formal banking services. Women workers constitute over 60% of the RMG workforce and are the backbone of the RMG industry.
Through wage digitization, the project empowers RMG workers to conduct financial transactions as account holders and clients. The project activities are directed to find market-based and scalable solutions that address underlying constraints such as inadequate financial literacy, lack of access to formal banking services, and commercially viable business solutions for commercial banks to cater to the needs of the RMG workers.
The project targets are to:
The project results:
This project is financed by MetLife Foundation, among other donors. As part of the Swisscontact Development Programme, it is co-financed by SDC (Swiss Agency for Development and Cooperation, Federal Department of Foreign Affairs FDFA).