The Microcredit Summit Campaign was launched in 1997, with the goal of reaching 100 million of the world’s poorest families with credit by the end of 2005. By the end of 2005, we are hopeful that we will achieve that goal.
On April 19, The Microcredit Summit Campaign announced in Santiago, Chile, that the Campaign has been extended until 2015. This decision was made after a Campaign-wide consultation, with a view to achieving the Millennium Development Goals (MDGs). Adopted by 180 heads of state at the Millennium Summit in 2000, the first MDG calls for halving the number of people living in absolute poverty (below US$ 1 a day) by 2015.
The call for extending the campaign was made in 2003. In view of the overwhelming support from everyone, the campaign has been extended to 2015 with two new goals:
Reaching 175 million of the world’s poorest families, with credit for self-employment and other financial service. With an average of five members in a family, this would improve the lives of 875 million family members.
Ensuring that 100 million of the poorest families move to above US$ 1 a day , which would help achieve the MDG on halving absolute poverty.
The official re-launch of the Campaign will take place at the Global Microcredit Summit to be held on November 12-15, 2006, in Halifax, Nova Scotia.
Report by Lamiya Morshed and Tania Sharmin