Global Poverty, Your Days are Numbered
Teams of people are passionately working to eliminate global poverty - and they’re seeing unprecedented success. Sound too good to be true? It’s not. The solution is called microfinance, and it’s empowering the world’s poorest people on a massive scale.
The idea is simple: Give someone enough money to invest in their own small business, and use their social capital as collateral to handle the risk. Groups of women accept individual loans in a group agreement and help cover for each other in the case of personal emergencies.
Money donated to microfinance is continually effective because it keeps on giving. After your five dollars helps one family get food on the table and children in school, the money is reloaned to the next family in need. Best yet, the system is profitable for investors and enables banks to contribute millions in capital.
This is a shining success for humanity and a great opportunity to contribute your own intelligence, creativity, and resources. A flourishing global community is within our grasp. Do your part - help spread the word!
Google Video: Grameen Foundation - Microfinance (15 min. Invigorating Documentary)
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The man from Bangladesh who started the microfinance industry just received the nobel peace prize for his efforts. It is a grand plan and hopefully it will continue to grow as women share their fortune with others in their community. thanks for the video site. I’ll forward it to others so they can watch it too.
Have you heard about Kiva? it is also a great organization who strives to combat poverty through microlending. Just thought it was worth mentioning ! http://itsmybabyicryifiwantto.blogspot.com/2006/10/imagine-all-people.html
Ruthy - thanks for letting me know about this! Kiva’s doing a lot of things right; I’ll probably dedicate a post to them in the near future.
[...] Kiva combines the microfinance charity model with a network of prescreening partners, making the likelihood of your full repayment around 97%. Consider the flaws of previous donations to charity. Now consider 100% of your money going directly to those in need and a 97% chance you’ll get your money back. Kiva revolutionizes the notion of charity in no small way. [...]