Developing Countries Necessary for GDP Growth FOOD KENYA HOUSES

Globalization: Poverty or Prosperity?

A new way to fight global poverty MICROLOANS A new way to fight global poverty

Microcredit Microloans allow poor people in developing countries to borrow small sums of money Loans usually range from $10 - $1,000 Interest rates range typically between 20% - 70% Originated in Bangladesh Muhammad Yunus won Nobel Peace Prize for developing Micro-Loans Founded Grameen Bank

Grameen Bank Founded 1973 in Bangladesh Has distributed 6.55 billion USD 7.34 million borrowers (97% women) Over 90% repayment rate!

Video on Microfinance http://youtube.com/watch?v=JoEzDOguCAc

BENEFITS Allows new businesses to start Establishes credit for future loans Empowers women as head of the household Helps developing countries slowly industrialize

COSTS Some women depend on loans for household expenses Scams- abuses do occur Some foundations use excessive interest rates Could become entrapped in debt

Organizations Kiva Namaste Direct Unitus Grameen Bank (Village Bank) Companies and Charities: Kiva Namaste Direct Unitus Grameen Bank (Village Bank) Muhammad Yunus’s Bank YOU can lend Money!

Economic Analysis of Microloans FOOD KENYA HOUSES

Bibliography http://www.microcreditsummit.org/Aboutmicrocredit.htm http://www.microcreditsummit.org/Aboutmicrocredit.htm  http://www.wilsoncenter.org/index.cfm?essay_id=361250&fuseaction=wq.essay http://www.kiva.org/ http://www.grameen-info.org/ http://www.namaste-direct.org/ http://www.cnn.com/2008/LIVING/wayoflife/04/03/microfinance/index.html?iref=newssearch