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RESULTS is a US non-partisan citizens' advocacy organization founded in 1980. The organization aims to find long-term solutions to poverty by focusing on its root causes. It lobbies public officials, does research, and works with the media and the public to fight hunger and poverty. RESULTS has 100 U.S. local chapters and works in six other ...
The domestic Accion programs started in Brooklyn, New York, and grew from there to become the first nationwide network microlender. [30] [circular reference] US microcredit programs have helped many poor but ambitious borrowers to improve their lot. The Aspen Institute's study of 405 microentrepreneurs indicates that more than half of the loan ...
Some argue that microcredit empowers women. [1] In the US and Canada, it is argued that microcredit helps recipients to graduate from welfare programs. Critics say that microcredit has not increased incomes, but has driven poor households into a debt trap, in some cases even leading to suicide.
Many microcredit programs are offered to groups of women who share "group liability", meaning that all members of the group are responsible for repaying the loans if one of the members defaults. Group liability has been promoted by Nobel Prize winner Muhammad Yunus as the best way to ensure high repayment rates. [ 23 ]
Village banking is a microcredit and saving methodology whereby financial services are administered locally in a community bank rather than in a centralized commercial bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs.
The Microcredit Summit Campaign was founded by Muhammad Yunus, Sam Daley-Harris, and John Hatch on a principle that emphasized a citizen-led approach of establishing and meeting a collective global goal. The Campaign represents more than a single organization and is a social movement that aims to advance the microfinance field and foster a ...
Visitors walk past the 'Super Micro' both at the Computex Taipei exhibition, one of the world's largest IT expos, in Taipei, Taiwan, Tuesday, June 5, 2018.
In 2009 and 2010, Accion helped to start microfinance institutions in underserved areas of Inner Mongolia, Cameroon, and Brazil.. In December 2009, Accion inaugurated Accion Microfinance China (AMC) in Chifeng Prefecture, Inner Mongolia; this microfinance institution represented the first wholly owned foreign microcredit company (MCC) and only the second wholly foreign-owned MCC in the country.