Micro-loans an efficient but perfectible tool to reduce poverty, world women summit
Regional, Economics, 7/2/2003

Participants in a workshop on micro-loans, held Monday in Marrakech part of the World Women Summit, unanimously underlined that although micro-credits have undeniable advantages to reduce poverty, they should be beefed up by measures to guarantee economic viability.

The workshop that grouped micro-credits experts and associations that are active in this realm, highlighted the importance of this financing tool that allows allocating loans without mortgages and guaranteeing to the poorest people a regular income.

"The life of thousands of people around the world changed thanks to this system," said a participant, adding that several persons turned from the daily fight for survival and subsistence to the creation of enterprises that generate regular income for families and in some cases, jobs for the other members of the community.

Participants recommended fusion between micro-credit institutions and small programs to guarantee an economic viability and a fruitful cooperation with trade banks.

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