kurtz182

 Profile Answers by kurtz182 Questions by kurtz182

• Dec 10th, 2009

 

In some countries around the world, people live well on very little wages.  The equivalent of $1 USD per day is enough for people to not only survive but live relatively contented lives.  In addition to this, people of all socioeconomic stratas are entrepreneurial and many in these depressed areas acheive a great deal through their resourcefulness and ingenuity.  In response to this, I understand that financial institutions are sprouting up in India, Africa and other countries to lend money to low-income workers and entrepreneurs. Admittedly, I am not aware of the terms of lending, but I believe this arrangement can produce many win-win outcomes.  If these financial institutions become profitable, they can lend with greater risk to those less fortunate who are attempting to find work and/or add value to society through self-employment.  I believe the success of these programs will ultimately come down to the true missions of the lending institutions.  If they are merely being opportunistic and hope to become fat off a reliant and unsuspicious population, then the programs will ultimately fail.  However, if they truly care about the welfare of their constitients and maintain a sense of philanthropy, I feel the sky is the limit.