Gates Foundation Supports Savings Accounts for the Poor | Blog | NextBillion.net | Development through Enterprise

I particularly like this observation of what poverty does to one’s ability to enter into the sanctioned forms of economic development:

“One of the arguments that Portfolios of the Poor makes is that the poor lack robust, flexible, and effective financial tools.  Perhaps not surprisingly, this lack of resources spurs creative money management among poor households.  Some utilize products in ways that defy their original design.  For example, several borrow money through microcredit as a way to save it for future use.”

Gates Foundation Supports Savings Accounts for the Poor | Blog | NextBillion.net | Development through Enterprise

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