The Cause
The organization behind the event is:
Around the world
About Microfinance:
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Microfinance in the USA:
Microfinance as an industry has outstanding loans to over 100 million poor people, a number growing rapidly, with a 97% global repayment rate. A small loan has the ability to empower the working poor, mostly women, to lift themselves and their children out of poverty.
7Bar Foundation and the Millennium Development Goals
The Millennium Development Goals (MDG) are eight goals that the United Nations member states have agreed to achieve by 2015. The MDG’s are globally-adapted targets for reducing extreme poverty by 2015. Microfinance indirectly helps achieve every one of these goals, and directly effects the following:
- Eradicate extreme poverty and hunger
- Halve, between 1990 and 2015, the proportion of people whose income is less than one dollar a day
- Achieve full and productive employment and decent work for all, including women and young people
- Halve, between 1990 and 2015, the proportion of people who suffer from hunger.
- Promote gender equality and empower women
More information is available on the Millennium Development Goals web site.
7Bar Foundation works towards reaching the Microfinance Industry Goal
“100 million families will rise above the US$1 a day threshold by 2015”
Microfinance Frequently Asked Questions:
- What is Microfinance?
- How does Microfinance help those in poverty?
- What is a Microfinance Institution(MFI)?
- Who are the clients of Microfinance?
- Why do MFI’s focus on women?
- Can Microfinance be profitable?
- Why do MFI’s charge such high interest rates?
- Why don’t traditional banks accommodate poor people?
- Is Microfinance a solution for poverty?
- What is the global repayment rate?