Microcredit Summit Campaign to Expand Efforts to Document Success of Microfinance - Bill & Melinda Gates Foundation
Gates Foundation Provides $700,000 to Document Success of Microcredit
Grant will fund ambitious program to determine microcredit recipients who rise above extreme poverty
The Microcredit Summit Campaign was the recipient of a $700,000 grant from the Bill and Melinda Gates Foundation. The grant will help the Campaign measure progress toward its goal of ensuring that 100 million families rise above the $1 a day threshold by 2015.
As many as two billion people living on $1 a day or less do not have access to financial services that can help them increase their financial security and improve their lives. Without services like loans, savings, or insurance, it is difficult for families to save and pay for necessities like educational fees, medical bills, household improvements, or emergencies.
To read the full press release, visit the The Microcredit Summit Campaign web site.