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.