12 November 2006

Microcredit: Global Microcredit Summit unites world leaders to slash poverty

This week's Global Microcredit Summit in Halifax announces new to lift half a billion people out of extreme poverty by 2015, according to press release by The Microcredit Summit:
HALIFAX, NOVA SCOTIA, CANADA – World leaders including Queen Sofia of Spain, President Zelaya of Honduras and Nobel Peace Prize winner Professor Muhammad Yunus were joined today by microcredit lenders, international banks, UN agencies and more than 2,300 delegates from around the world, to launch the Global Microcredit Summit 2006, an international conference that aims to contribute to the eradication of worldwide poverty by setting two new, bold measurable goals for global microfinance.

“The goals laid out this weekend in Halifax could potentially lift more than 500 million people out of extreme poverty by 2015,” according to Summit organizer Sam Daley-Harris. “Succeeding will require renewed effort and some new players, but if the commitment demonstrated in fulfilling earlier goals is matched, I have every confidence we’ll be successful.”

Established during this week’s Summit, the Microcredit Campaign’s two new goals are to: (1) ensure 175 million families have access to credit, and (2) help 100 million of the poorest families move above the $1/day threshold by 2015.
Speaking at the Summit’s opening ceremony, Microcredit Summit Campaign Director Sam Daley-Harris remarked on the progress made toward the Summit’s original goal, set in 1997, of reaching 100 million of the world’s poorest families with microloans. “113 million families took out microloans last year and 82 million of those families were among the world’s poorest when they did.” Daley-Harris said, “We’ll likely hit our original goal of reaching 100 million of the world’s poorest with a microloan by the end of this year; one year late, but still a remarkable achievement!"

Read the entire press release: Global Microcredit Summit

Check out the Global Microcredit Summit Campaign

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