Did you know that your version of Internet Explorer is out of date?
To get the best possible experience using our website we recommend downloading one of the browsers below.

Internet Explorer 10, Firefox, Chrome, or Safari.

Bill And Melinda Gates Teach Most Indigent How To Save Their Pennies

Like us on Facebook:
The current article you are reading does not reflect the views of the current editors and contributors of the new Ecorazzi

The Bill & Melinda Gates Foundation is on a mission to show more than 2 billion of the world’s poorest people how to save their pennies for a rainy day.

Their plan to achieve this is through the Global Savings Forum event, where the foundation is bringing together financial leaders from 38 countries in order to offer people who live on about $2 a day (what we might spend on a latte) the means to take control of their own futures.

Set for this Tuesday and Wednesday in Seattle, the forum will include a speech by Princess Maxima of the Netherlands, the United Nations’ special advocate for inclusive finance for development, and Melinda Gates, who is expected to make a major grant pledge that represents their biggest financial services commitment to date.

The event is being billed as a unique opportuinty for experts from banking, technology, government, and other industries, to openly discuss new methods of providing banking services to rural areas — a rather daunting challenge when you consider that only 10 percent of the world’s poor have access to a bank account. And, for banks, it’s harder to recoup the losses of frequent and smaller transactions that are typically seen in these regions.

Ignacio Mas, the deputy director of the foundation’s financial services, said of the foundation’s goals, “Savings is an option everyone should have, which is not true for credit.” He went on to explain that the event comes during a time when loans to the poor have grown exponentially with microfinancing, but savings has continued to be a neglected issue until now.

Like us on Facebook:
0 Comments

Kendall Jenner’s calfskin shoes illustrate how society values animal products

Press releases often find their way into my inbox. Occasionally, they’ll centre around a new animal rights initiative or vegan product, but usually, they’re unsolicited dribble e-blasted to every unprotected news media email address available. So when news of some…

Seductive and Destructive: The Insidiousness of “Happy” Exploitation

We need to shatter and dispel once and for all the insidious myth that it is somehow possible to exploit non-human animals “humanely.”

How I Got Ill on a Vegan Diet and Why I Ended Up Listening to My Body

Let me tell you, when I made that choice, I didn’t feel good about it.