Angel Organizations of the Month
Microcredit Summit Campaign - International Organization of the Month
What is the Microcredit Summit Campaign?
The first Microcredit Summit, held February 2-4, 1997, gathered more than 2,900 people from 137 countries in Washington, DC. They launched a nine-year campaign to reach 100 million of the world’s poorest families, especially the women of those families, with credit for self-employment and other financial and business services by the year 2005. That goal was very nearly reached and in November of 2006 the Campaign was re-launched to 2015 with two new goals:
The Campaign brings together microcredit practitioners, advocates, educational institutions, donor agencies, international financial institutions, non-governmental organizations and others involved with microcredit to promote best practices in the field, to stimulate the interchanging of knowledge, and to work towards reaching our goals.
The Microcredit Summit Campaign is a project of the RESULTS Educational Fund, a U.S.-based grassroots advocacy organization committed to ending hunger and poverty. To find out more about RESULTS and its International Affiliates, click here.
What are the core themes of the Microcredit Summit Campaign?
The core themes of the Microcredit Summit Campaign are:
Who are the poorest families?
The Microcredit Summit defines the poorest families in developing countries as the bottom 50% of those living below their country’s poverty line or those living on less than $1 a day adjusted for purchasing power parity. In the industrialized world, the Summit targets all those who live below the poverty line. Reaching 100 million of the world’s poorest families is only one step in eradicating poverty worldwide: currently, the World Bank estimates that 1.2 billion people (roughly 240 million families) are living on less than US$1 a day.
Why target Women?
1.2 billion people are living on less than a dollar a day. Women are often responsible for the upbringing of the world’s children and the poverty of the women generally results in the physical and social underdevelopment of their children. Experience shows that women are a good credit risk, and that women invest their income toward the well being of their families. At the same time, women themselves benefit from the higher social status they achieve within the home when they are able to provide income.
For more information on the Microcredit Summit Campaign, please click here.
To view all Angel Organizations of the Month, please click here.
Target Gives $1 Million
Read about Ken Fredman, web developer and marketing executive in Manhattan.
Read about Pam Cope, co-founder of the Touch A Life Foundation, in Dallas, TX.
The Denise Amber Lee Foundation
Coaltion to Stop the Use of Child Soldiers
FINCA International provides financial services to the world's lowest-income entrepreneurs.