Microfinance helps end extreme poverty, the greatest violence against mankind.
The Bottom Billion Fund provides money for micro loans through microfinance institutions (MFIs) located in countries where a large portion of the population lives on less than $1.25 a day. 1.4 billion people live in conditions of extreme poverty, the source of 10 million deaths a year, primarily women and children.
Reaching the bottom billion helps fight other human inflicted crimes against humanity such as Joseph Kony. Those living in extreme poverty are not only vulnerable to hunger and disease contributing to issues of impaired intellect and lack of education but also face the evil of being recruited or taken into terrorism.
Microcredit for people, often women, wishing to fund a micro enterprise, such as a chicken farm or distributing solar LED lights as supported by Unite-to-Light provides the means for communities to improve their living conditions and leave extreme poverty.
Although there are 10,000 micro finance institutions around the world, many do not focus on people living in extreme poverty. According to Tom Coleman, founder of the Bottom Billion Fund, only the top 300 to 500 institutions provide services to 90% of the poor but do not always focus on micro-credit for the extreme poor.
The Bottom Billion Fund suggests that your investment can make the greatest impact in fighting extreme poverty by working with MFIs that:
- are large enough to make an impact
- are sustainable even if not profit maximizing
- are able to handle foreign investment
- specifically reach people living on less than $1.25 a day.
Learn more of the facts on GapMinder.org. Read the good news about Ghana and Africa. Learn from Mark Lange, an analyst and columnist who often writes about extreme poverty. Hear Tom Coleman speak about the progress reported on this important UN Millennium goal.
Watch the video below and visit the Bottom Billion Fund YouTube channel:
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