Tuesday, August 7, 2007

Micro-Editorial

The San Diego Union Tribune has a very interesting editorial today...it is about Mirco-loans and why the World Bank doesn't do more to "really" help the poor. It may have something to do with the relatively rightwing bend of Union-Trib that they want people to work for their money, but who cares? This is a good thing.
Micro-commitment

World Bank can do more to help the poor
August 7, 2007

“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.” – Chinese Proverb

“If the bank doesn't do it, who else will?” – 2006 Nobel Peace Prize winner Muhammad Yunus

Microcredit is a bureaucratic term for tiny but remarkably effective loans that in essence allow the poorest of the poor to learn how to fish – to lift themselves out of poverty. The bank referred to by Yunus is the World Bank, whose mission is captured in its noble slogan: “Working for a world free of poverty.”

So why does the World Bank commit just $132 million, less than 1 percent of its budget, to microcredit programs? Read More

We have been talking about this for a long time...nice to see that main stream media is catching up.

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