Microfinance is an International Development success story, with steady growth since the 1970’s and its emergence as a key tool to fight poverty which was recognized with a Nobel Peace Prize in 2006.
Excluded from access to very basic financial services, the very poor are continually denied their chance to access a dignified route out of poverty. Microcredit is the provision of small loans (roughly $50-$100) targeted at the very poor.
This April, the World Bank named Dr. Jim Yong Kim as its next president.[1. http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:23170638~pagePK:34370~piPK:34424~theSitePK:4607,00.html] Dr. Kim, a global health specialist, will officially begin his tenure at the World Bank on July 1st. As the new president of the World…
Speak Out Against the Deep Cuts to Aid : The Federal Budget Should Not Fight the Deficit on Backs of Poor
The federal government is facing some tough economic challenges, and departments across the board are reducing spending. However the poorest must not pay the price – cutting development assistance and pushing the world’s most vulnerable further into poverty is not the way to balance the budget.