Prevail savings groups
ICM empowers economic growth through our Prevail savings groups. Prevail is a multifaceted, community program that enables families in ultra-poverty to earn, save, and invest for a brighter future. Our vision for the ultra-poor is for every person to have a dependable income, access to savings for emergencies or start-up capital, and a community around them to support and encourage new economic opportunities.
See our research
Read our research about what life is like on less than 50 cents per day.
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The Struggle of Living on $0.50 Per Day
For those living in ultra-poverty on less than $0.50 per person per day, every day is a financial struggle. Even basic needs often exceed a family’s available resources. A sudden crisis or unexpected event, such as a medical emergency or natural disaster, can wipe out any financial progress in the fight against poverty. As poor families are forced into debt they struggle to pay off, they live in a constant state of vulnerability.
This chart represents the minimum essential consumption requirements of a typical ultra-poor family.
Ultra-poverty and Hunger
One of the most stark and tangible aspects of life in poverty is that of hunger. Without enough resources, parents are often not able to provide food for themselves or their children.
Momprenuer and savings group start new businesses during pandemic
Many mothers from ultra-poor communities are housewives who are dependent on their husbands’ small incomes. The pandemic, which caused job and income loss, has made their situations even worse. Through ICM’s 2R (Refresh and Renew) program, we were able to help these women through a difficult time.
A mother’s sustainable future
Erlinda was left to raise her two children on her own when her husband died more than 10 years ago. They barely survived by reselling dried fish and other goods and snacks from their town market to their community.
The Lady Bangca Rider of Bohol
Fancy a boat for an everyday ride? While other people nowadays invest in bikes, motorcycles, and sidecars, former Transform participant Merabel from Bohol chose a boat as her go-to everyday transportation.
ICM’s Approach to Economic Growth
ICM empowers ultra-poor communities with a comprehensive approach to sustainable livelihoods and economic development in the Philippines:
- First, we provide training and resources to launch and maintain a
micro-business. ICM provides participants with a small amount of
start-up capital, in the form of “Business-in-a-Box” kits. These kits
provide the materials participants need to launch a sustainable
business.
- Participants form Prevail savings groups, and each member commits
to saving a small amount with the group each week. Each savings
group elects its own leaders and creates its own policies.
- Participants use their savings to invest: either in their small
businesses, group enterprises, or in long-term home improvement,
education, or medical needs.
Average Savings
The ICM community is full of people who care about effective, efficient, research-backed solutions in the fight against ultra-poverty. We would love to have you join us!
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