Here's why microfinance is needed There are 3 billion people still living on $1 or less per day. Think about it. The shortest-possible Hong Kong taxi ride you can take, is roughly double that amount.
Alex Counts, the CEO of microfinance organisation Grameen Foundation, spoke at the University of Hong Kong last week and listed four main reasons why so many people are still living below the poverty line -- even when they are trying to make a go of it. For the poor, there is often a lack of financing for business and education a lack of insurance for micro-entrepreneurs to mitigate their business risks a lack of a trusted source of...
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