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Hope Looms
Five years ago, the village of Salngan near the coastal town of Iloilo in the southern Philippines was a forgotten community, so poor and marginal that even local people didn’t know that it existed. Poor farmers rented small plots of land to grow enough vegetables to sell for subsistence. In a good month, they made A$50. This was never enough to send their children to school, and hopelessness, malnourishment and despair were rife. Read more here...
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$1.25: The Tip of the Iceberg
Traditionally, the World Bank has defined poverty in terms of household income level, estimating that a quarter of the developing world lives in “extreme poverty” – struggling to survive on US$1.25 a day or less. But does this widely accepted definition tell the whole story? Read more here...
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For Profit or for People
Earlier this year, Indian microfinance institution SKS Microfinance made an initial public offering, bringing attention to the commercialisation of microfinance and the impact for-profit microfinance organisations have on the microfinance industry, and ultimately, the poor. The risk is that a focus on profits rather than client needs will sooner or later be to the detriment of people living in poverty. So where does Opportunity fit in? Read more here...
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Letter from the CEO
October shone the spotlight on India as people from all around the world travelled to Delhi for the Commonwealth Games – whether via plane or their television screens. Throughout the 11 days, athletes competed, the media reported and supporters cheered. And quietly in the background, more than a million Opportunity International Australia clients worked hard at their small businesses – selling drinks and snacks to tourists, tailoring suits, weaving sarees or making souvenirs. Read more here...
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