Source: CSR Wire.
Original news wire here.
BOSTON, MA. – January 28 – ACCION(R) International, a pioneer and leader in microfinance, today formally announced that its ‘Lend to End Poverty’ campaign and petition, calling on economic leaders to promote and prioritize microfinance at the World Economic Forum (WEF) Annual Meeting 2009, crossed the 20,000 signature mark in advance of the WEF opening today in Davos, Switzerland.
Launched online earlier this month and available at www.lendtoendpoverty.org, the petition has secured 20,132 signatories, who have called on the leaders of the WEF to highlight, during the meeting, three key initiatives for building inclusive financial systems.
Microfinance has proven itself as a powerful tool in addressing global poverty, helping poor entrepreneurs break the cycle of poverty by providing them with financial tools such as credit, savings and insurance. Yet today it reaches only 10 to 20 percent of the estimated 500 million poor who could benefit from these opportunities. The campaign seeks to help address this imbalance by urging the WEF’s co-chairs to promote microfinance to the influential attendees at Davos.
The petition specifically asks the leaders of the WEF to highlight the need for building microfinance programs in underserved markets; for broadening the range of financial services available to the poor; and for ensuring that low-income entrepreneurs are protected through such best practices as quality services, transparency and appropriate pricing.
“Despite the awareness and expansion of microfinance in recent years, and its proven effectiveness in alleviating poverty, we must continue to work harder and faster, to do more,” said Maria Otero, president and CEO of ACCION. “We cannot let the global economic crisis divert attention from the drive to reduce global poverty. We set out three weeks ago to engage 10,000 new supporters in our mission. That more than 20,000 have signed on inspires, humbles and motivates us. We thank them deeply for their support.”
The Lend to End Poverty petition is available for viewing and signing at www.lendtoendpoverty.org.
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