Opportunity Fund (Esélykassza)

The aim of the Opportunity Fund (Esélykassza, formerly known as Chance Bank) programme was to develop and test a method – previously unused in Hungary – that combines financial, educational and development elements, with a view to strengthening the financial awareness and more systematic household budgeting of households living in extreme poverty in small settlements. The programme was implemented as part of a research project funded by the Hungarian Development Bank (MFB Zrt.), carried out by Autonómia, with Mikrohitel Zrt. involved in the financial operations.

In addition to testing the method, an impact assessment was also part of the programme, for which we conducted pre- and post-programme surveys. The programme was launched in eight localities; participants took part in financial training and mentoring, made regular savings, and were able to take out small loans based on mutual accountability.

According to the impact assessment, the most significant short-term outcome was a change in financial attitudes: the proportion of families drawing up a monthly budget increased, and openness to saving grew. The programme’s impact was particularly evident in financial planning, more conscious management of expenditure, and a more positive attitude towards the future.

As a result of the project, we developed a methodology and training model that has proven to be useful in the long term for the financial development of disadvantaged households.