http://www.forbes.com/sites/helencoster/2011/11/30/novogratz/
We all know that foreign aid to poor countries especially to Pakistan has never really worked. Even if by some miracle the money does reach the people in need, it is usually a short term relief. The idea is to provide these poor people with a mechanism that will be permanent. Sort of similar to teaching them how to fish rather than giving the fish straight away. This article talks about this American woman who is using micro finance banking to relieve these poor people from the poverty trap they have lived in their entire lives.
We all know that foreign aid to poor countries especially to Pakistan has never really worked. Even if by some miracle the money does reach the people in need, it is usually a short term relief. The idea is to provide these poor people with a mechanism that will be permanent. Sort of similar to teaching them how to fish rather than giving the fish straight away. This article talks about this American woman who is using micro finance banking to relieve these poor people from the poverty trap they have lived in their entire lives.
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