Grameen Foundation Promotes Microfinancing For The World’s Poorest
Their goal is simple to see poor people, especially the poorest of the poor, move themselves out of poverty. By collaborating with local organizations and allies around the globe, they have helped millions of poor people, mostly women and children, to improve their lives. Grameen Foundation (GF) does this by providing microfinance institutions (MFIs) in poor communities with access to capital for small entrepreneurs. In many of the poorest regions in the world, micro-business creation is the only way for families to escape poverty and build a better future for their children.
Grameen Foundation Promotes Innovative Solutions For The Poor
Grameen Foundation strengthens the efficiency and transparency of microfinance institutions (MFIs) who are known to lend to the very poor. GF does this by providing them with the latest and most sophisticated technology and open-source software and staff training. As well, GF develops innovative new technology-based business start-up ideas for the poor. For example, PT Ruma is an example of using a mobile phone-based franchise business to provide opportunities for poor entrepreneurs. And finally, Grameen develops information platforms (similar to Google) to spread information relating to health, crops, weather and other issues to people in poor isolated communities. Such information can be life saving in the case of a person with a life-threatening illness. It can also be life transforming in the case of a farmer in need of an urgent solution to save his crops from disease.
Grameen Foundation Is Ending Poverty – And They Can Prove It!
To the often asked question, “How effective is microbanking at ending poverty”, there is now a simple and effective answer the PPI. GF’s ‘Progress Out of Poverty Index’ (PPI) simply but accurately measures poverty levels in 38 countries. Identifying a poor borrowers level of poverty before and after the life of a small loan can measure how she and her family have progressed out of poverty. It also compares how her family index compares to her country’s national index. And now finally, GF, their partners and all other poverty-focused organizations can measure how effective they are at fighting poverty.