Poverty in today's world....

- Three billion people — half the world’s population — live on less than £1 per day, unable to meet their basic human needs.
- Almost 30,000 children under the age of five die every day from malnutrition and preventable disease. That’s one junior class every minute.
- Approximately 790 million people in the developing world are chronically undernourished. That’s the equivalent of every single person in both North and South America going hungry every day.
- Nearly a billion people entered the 21st century unable to read a book or sign their names.

The emergence of microfinance...

Microfinance emerged in the 1970s for those who were previously considered “un-bankable” because of their lack of collateral. Once given the opportunity, not only did loan recipients expand their businesses and increase their incomes, but their high repayment rates demonstrated that the poor are capable of transforming their own lives given the chance. This model of lending disproved all conventional thinking. Microfinance was born. Since then, microfinance has become one of the most sustainable and effective tools in the fight against global poverty.