What's the best way to eradicate extreme poverty? In the past, I thought massive amounts of funds were needed. Now, I am not so convinced.
You will agree that we have to "teach a man to fish" for him to be sustainable, that is, survive in the longterm. It sounds great but it lacks the real world touch. Everyboby should not or can not fish.
"Make a microloan to struggling business person" should be 21st Century's saying and practice. After reading books about the work of Muhammad Yunus, I am convinced that microloan (microcredit) can do more to eradicate extreme poverty than anything else.
Today, I believe numerous small loans to women is the answer. Microcredit will help eliminate extreme poverty in Congo.
Help Eliminate Poverty, Make a Microloan to An Entrepreneur - washingtonpost.com.
Erick Schonfeld TechCrunch.com Wednesday, October 15, 2008; 7:19 AM
The financial crisis in world markets over the past few weeks has been a real eye-opener, but even those of us who have seen our stock portfolios decline by 30 percent or more don't have much to complain about. It could be worse. It could be a lot worse. A third of the world's population lives in poverty, and 20 percent lives in extreme poverty, meaning they are always hungry.
What can you do? How about making a microloan of a $20, $50, or $100 to an entrepreneur in a poor country?
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