This project will help: 315 children and 100 female caregivers
Completion date: October 2025
Country: Honduras
Executive summary
The COVID-19 pandemic has had a significant economic impact on families around the world. A 2022 survey conducted by UNICEF and IMPACT Initiatives analyzed the impact in 11 Latin American and Eastern Caribbean countries—it found that 46 per cent of households with children and adolescents have only enough savings to cover their basic needs for two weeks or less. Many families in Honduras are struggling post-pandemic; according to the CNBS (National Banking and Insurance Commission), Honduras occupies third place with the lowest per capita income in Latin America and the Caribbean.
Only 21 per cent of Hondurans have a formal bank account at a financial institution. Caregivers lack financial literacy skills and are therefore unable to pass on these skills to their children. Without education, their children are likely to repeat the generational cycle of poverty. The national school curriculum also lacks basic financial education and training, leaving youth and young people without the knowledge and skills needed to adequately save money and plan for their future.
While children and youth may not be generating an income yet, learning these skills as they grow can help young people make good decisions as they think about their futures. Caregivers can also significantly benefit from learning new financial skills. When caregivers know how to run small businesses, manage their income and save money, they can better provide for their children and families.
With your support, Compassion will partner with the non-profit Junior Achievement Honduras to provide 315 young people age 7 to 12 and 100 mothers from nine Compassion centres with business and finance training. Participants will learn money management, business and economic skills based on their age and life stages. Female caregivers will attend 13 workshops covering topics such as self-esteem, motivation, business and finance and teamwork. At the end of the training, participants can attend a business plan development workshop to help them effectively plan for the future. Children and youth will attend a five-part program to help them better understand how finances play a role in their communities, families and country.
Summary
Background
Compassion International Honduras partnered with Junior Achievement Honduras in the past to develop a pilot project involving two programs. In the first program, children age 7 to 9 participated in four training sessions. Each training session focused on a different topic, such as their community, an example local business, the role of the government and starting a new business. The second program involved mothers who were interested in building their entrepreneurial skills. Over 13 sessions, moms learned more about topics such as building their confidence, creating family budgets, saving, using credit wisely, growing a business, financial planning and financial giving.
The results from the pilot program were exceptional and had a significant impact on the lives of those involved. The initial program also allowed Compassion and Junior Achievement Honduras to assess the implementation of the programs, see proven benefits and make any necessary changes and adjustments to future program implementation in other Compassion centres across the country.
The need
Compassion’s frontline church partners in Honduras are committed to helping children and youth continue the Compassion program and finish well when they turn 18. However, lack of financial education among children, youth and parents presents a challenge, as many young men and women don’t have the skills needed to save money, plan for their futures and achieve their goals. With your support, Compassion will work alongside Junior Achievement Honduras to implement the two developed financial literacy programs at nine frontline churches.
With your generous gift, 315 boys and girls age 7 to 12 from nine different Compassion centres in Honduras and 100 mothers/female caregivers of program participants will attend workshops designed to help improve their knowledge understanding of business and finances. Over four to five sessions, children will learn about the role of money in society, personal finances, how to use financial institutions, the importance of preparing for the future and how to save money when the time comes. Moms/female caregivers will participate in a comprehensive training program that will allow them to grow their confidence as business owners and develop a viable business plan, as well as learning how to prepare personal and family budgets, how to use credit wisely, effective communication, saving, financial planning and giving. Five groups of 20 caregivers will attend one 1.5-hour session per week over four-and-a-half months. This intervention aims to improve the livelihoods and well-being of children and families across the country.
What your gift will do
Your gift will allow 315 Compassion-assisted children and youth age 7 to 12 and 100 mothers/female caregivers of program participants to attend financial literacy training courses, including:
- 45 program tool kits
- 100 manuals for the Entrepreneurial Women Program
- Lunch and dinner for 32 trainers
- Rental space for 5 days
- Transportation for 28 trainers
- Material kits for program implementation at 9 Compassion centres
- Training cost for collaborators (provided by Junior Achievement Honduras)
Logistics
- Local contribution: US$33,460.58; Junior Achievement Honduras will cover 50 per cent of the cost of children’s toolkits, manuals for the Women Entrepreneurs Program and the entire cost of training the trainers.
- Handling of funds: Compassion International Honduras will work with the Compassion centre directors and partnership facilitators to ensure this project stays within budget.
- Monitoring and follow-up: Compassion International Honduras and Junior Achievement Honduras will provide support to children and youth and women entrepreneurs throughout the training. At the end of each program, learning will be evaluated to guarantee an understanding of each lesson and its purpose. Women who complete the training sessions will receive support to further develop formal business plans so they can opt for financing or seed capital if desired.
