On 5th February 2017 BAOWE_Pelzhing was launched commemorating His Royal Highness, Gyalsey Jigme Namgyel Wangchuck’s first Birth Anniversary.
It is envisioned that BAOWE’s members in time will progress into full fledged entrepreneurs with the capacity to join the mainstream economy. However, handholding may still be required for sometime albeit in less proportions. These progressive women will grow out of being Self Help Group (SHG) members into independent entrepreneurs requiring conducive environments to grow in strength and gain confidence.
BAOWE_Pelzhing, a micro finance institution licensed by RMA ( Financial Service Act ,2011) has been conceptualized to provide a conducive platform encouraging progressive RORUM members to grow their businesses. In a unique module, BAOWE is project driven providing infrastructure, skills developments and the formation of marketing linkages between small holder and social Entrepreneurs building dedicated and loyal clients base. This ‘Hub & Spoke’ method creates a consistent and sustainable raw material supply chain ensuring inclusive and sustainable economic development (Refer Fountain Effect).
Poverty is the mismatch between opportunity and potential. BAOWE_Pelzing aims to bridge the gap between the banked and unbanked clients in Bhutan. The Unique Selling Point (USP) of BAOWE_Pelzing is its ability to keep operational costs low through innovative methods.
BAOWE since its inception has successfully commissioned numerous projects, creating livelihood opportunities both in urban and rural Bhutan. BAOWE is currently engaged in identifying and developing projects across rural Bhutan.
BAOWE_Pelzhing will focus and prioritize its vision on impacting peoples lives positively and not be solely driven by ambitious financial targets and profit maximization. As a bank, their aim is to provide ethical banking services to their members and clients.
BAOWE_Pelzhing will contribute towards:
- Financial Inclusion in the country
- Creating livelihood opportunities and employment generation
- Improving living standard of its members
- Economic and social empowerment of women.
- Promotion of entrepreneurial culture both in urban and rural areas.