Back A Woman
Launch Date : 2016
Website : www.backawoman.com
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The campaign aims to support entrepreneurial women in Myanmar with access to microfinance. For around NZ$300, you can help a woman start or grow a business through the support of a micro loan. Once this loan is paid back, the money will be redistributed to another woman, creating a multiplier effect and catalysing real change
Poorer people, especially in developing countries, are generally considered to be highly risky to lend to and therefore struggle to access credit from traditional banks.
They are forced to turn to loan sharks and pawn shops, which may charge interest rates in excess of 200 per cent per annum.
Credit is a catalyst for economic growth, which enables innovation and technological advance. A lack of credit means a lack of opportunity, which is prevalent in many countries where the economy is stuck in a low growth cycle with high inflation and unemployment.