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Contributions from
the Column
Facts and trends
Preventing AIDS through
social marketing of contraceptives
Guidelines for intervention
German Development Ministry budget for 2005
German Development Ministry concept on fighting AIDS
Malaria vaccine testing successful
Small loans, big impacts
400 billion dollars annually in bribes
“Leave us in peace!”
Separating civilian aid and the military
12/2004
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[ UN Year of Microcredit 2005 ]
Small loans, big impacts
On the 18th November UN Secretary General Kofi Annan officially declared 2005 as the “International Year of Microcredit.” German Development Minister Heidemarie Wieczorek-Zeul said that the UN Year of Microcredit underscores the importance of personal loans to people in the developing countries. “Access to the financial sector is a critical element of development and makes a substantial contribution to poverty reduction,” she said. Those earning just a few dollars a day are usually unable to access loans. But experience in the developing countries has shown that even small amounts of money can trigger great changes. “Supporting microfinance is therefore an important component of our development cooperation,” said Wieczorek-Zeul.
In developing countries, microfinance operators such as savings clubs, rural agricultural banks, credit cooperatives or microfinance NGOs offer services to those without access to the conventional banking sector. The German Development Ministry contributes more than 100 million Euro per year to establishing well-functioning financial services in developing and transition countries.
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