New York, NY, April 11, 2022 — The International Rescue Committee (IRC) and IRC's Center for Economic Opportunity (CEO) today announced the launch of the Support for Afghan Financial Empowerment (SAFE) initiative. The SAFE initiative will empower Afghan families as they begin their journey to financial stability and economic security in their new homes across the U.S.
Through the initiative, all Afghan evacuees in the U.S. will be able to virtually access financial literacy courses and financial coaching, receive assistance in filing their taxes, and apply for a zero-interest auto, education, immigration, or personal loan. All services will be provided in their native language by professionally trained financial coaches. Individuals can learn more about SAFE through the website: https://www.safeirc.org/
Economic empowerment programs are crucial for all refugees, but they are particularly critical for Afghan evacuees who arrived in the U.S. through Operation Allies Welcome. Many Afghans arrived in the U.S. without financial assets, credit scores, or knowledge of the U.S. financial system. These can all be barriers to achieving their immediate financial goals including renting an apartment, personal transportation, and paying for immigration fees.
Erica Bouris, Economic Empowerment Director, said:
More than 70,000 Afghans have arrived through Operations Allies Welcome. These families have endured a challenging emergency resettlement experience in the midst of the COVID-19 pandemic and a difficult economy.
Many Afghan evacuees lost everything – including money saved in banks and other financial assets. Like all humanitarian newcomers to the U.S., Afghan evacuees arrived with no credit score or file, creating barriers to renting housing, financing a car and limiting access to certain jobs. Not having a credit score or financial literacy can be costly and may put evacuees at risk of paying more for loans, rent, and other basic financial products.
The SAFE initiative is key to helping Afghan evacuees find success in their new lives in the U.S. Through specialized financial services, Afghans will have the opportunity to learn essential financial knowledge, speak with a coach to create a plan to achieve their financial goals, and receive zero interest loans for immediate needs, such as a car or immigration fees. By accessing these services, Afghan evacuees will be well prepared and supported to achieve financial independence.
The SAFE initiative builds on the IRC and IRC-CEO’s 18 years of providing economic empowerment programs, which support thousands of refugees annually in the United States. Currently, IRC offices offer specialized programs including financial literacy classes, financial coaching, matched savings programs, low-interest loans, volunteer income tax assistance (VITA), microenterprise development, and other services to assist refugees in the U.S.