MFI: LAPO Microfinance Bank Limited Webpage: http://www.lapo-nigeria.org/ Mission: Promote economic empowerment of low-income Nigerians through creation of access to responsive financial services on a sustainable basis.
Decent Work Area:
Child Labour
Innovation:
Financial Services & Non-Financial Services: Soft loan and awareness campaign
Educating clients on the disadvantages of sending their children to work
Offering a financial product (a soft loan for school fees at 1%/month) to help parents to diffuse the lump sum school payment over a monthly repayment schedule
Results:
School attendance: marginal impact for clients exposed to awareness campaign only; and insignificant impact for clients benefiting from the campaign plus loan
No significant impact on child labour incidence, with even increased hours worked
Awareness on child labour: no significant impact with higher value placed on work than school (negative impact of innovation).
