Pathways out of Poverty for the Poorest
The first Microcredit Summit, held February 2-4, 1997, gathered more than 2,900 people from 137 countries in Washington, D.C. 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. (Read the Declaration and Plan of Action from that summit.) By 2005, that goal was very nearly reached and in November of 2006 the Campaign was re-launched to 2015 with two new goals:
- Working to ensure that 175 million of the world’s poorest families, especially the women of those families, are receiving credit for self-employment and other financial and business services by the end of 2015.
- Working to ensure that 100 million families rise above the US$1.25 a day threshold adjusted for purchasing power parity (PPP), between 1990 and 2015.
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
Purpose of 100 Million Ideas
The microfinance industry has built strong momentum towards greater financial inclusion in recent years, yet growth alone cannot stand as an indicator of the sector’s accomplishments. The industry must now focus keenly on the quality of our outreach and of our services. Likewise, the Campaign will now refocus its energy on achieving goal 2, helping 100 million families lift themselves out of extreme poverty.