micro-finance+Aussie technology=poverty eradication

Thanks to a church worker who combines micro-finance with an Australian technology, villagers in Kyrgyzstan are creating revenues to improve their living conditions. This short video demonstrates poverty eradication is not only sustainable but scalable if micro-finance is carefully mixed with a technology! With help from George Negus & his team to reach Philip Ndungu, could Philip repeat the church worker's experience in Kyrgyzstan to use micro-finance to grow larger businesses? ccfpra@gmail.com

A hand up not a hand out

Thanks Dateline for highlighting a sustainable and practical way of alleviating poverty. Based in Australia there is an organisation called Opportunity International Australia who fund programs in India, the Philippines and Indonesia - www.opportunity.org.au - not only do they support the microentreprenuers, they also partner with local institutions to ensure they are financially and operationally sustainable, and working with a social motivation and helping the community development.

HAND-OUTS-BREEDS-POVERTY!!

Nice story from Kenya. It is time they had a break! Unfortunately Aussie, was taken over by the "INTERNATIONAL SOCIALISTS" back in the 70's when that dreadful Whitlam came into POWER! Of course, just like the United Kingdom he started giving HAND-OUTS!! and of course like all good Socialist countries we are going down the drain!! The Socialists want us on welfare, so they can control us and have Power over Aussies. Aussie will end up, just another South America. We well end up LOSERS!!

Just A Few Dollars Goes Such A Long Way

When I read about the effects of micro-finance I am always shocked at how little money so many people in this world have to live on. Even though it is not new knowledge to me I am still effected by the poverty of so many when I read about their lives. We can be involved. For those that would like to know how to support in a micr-finance way look at Kiva.org

A hand up, not a handout - and it works!

Microcredit works!! This has been proven again and again, in many areas around the world (including Austtralia). So why does the Australian aid budget only allocate such a measly sum, less than 1%, to Microfinance? This form of aid bypasses the bureaucracy with its problems of grafts and administrative bungles and goes directly to the very poor, where if can have a huge impact with a minimal outlay. Too simple for the bureaucrats?

Microfinance works!

Thank you for showing this positive segment about microfinance. The concept and success stories surrounding microfinance must be publicised! This system is a fantastic method of helping the poorest people of OUR world get themselves out of poverty with dignity. Please cover more stories on microfinance and the Grameen Bank. The World Bank and Governments should allocate more of their aid budget to Microfinance projects and we should think what this might mean for marginalised Australians.

Why Collateral?

Thanks Dateline for finding such an uplifting story involving tiny loans to the poor in the midst of the financial gloom. I was surprised to hear that Equity Bank requires some collateral from borrowers. This is not normally the case in acquiring a microloan. It is probably a real disincentive for the very poor who have over the past 30 years proven themselves worthy of loans without collateral requirements. Today over 100 million poorest people globally access loans for self employment.

Learningf from the poorest of our world's poor

The poorest of the poor have plenty to teach the richest of the rich. Yes, they can. The small sums of micro-financing make a large difference to the one in four people in our developing world who live on US$1.25 each day. The price of a cup of coffee in Australia makes a difference to these 1.4 billion people. Micro-financing are small loans of about $150 to the poorest of our world’s poor, enabling them to save money, start small businesses and work their way out of poverty. Australia’s annual foreign aid for micro-financing is surprisingly low at $10 million and could be increased to $45 million. As one example of the value of our aid, $5,000 could help transform a village in Afghanistan. Yes it can. The price of a large plasma TV in Australia can instead mean child and adult literacy, clean water and agricultural training amongst one community in Afghanistan. Our Australian dollars help end world hunger and poverty. We can make a difference. Yes we can. Peter Graves