Microfinancing works

NANAIMO – Global microfinance is not charity and it never stops working.

To the Editor,

The federal government says it wants greater accountability in its foreign aid; it couldn’t do any better than supporting microfinance agencies.

I personally support global microfinance because it’s not charity and it never stops working.

As the tiny business loans it gives to the poorest citizens is paid back, I can then lend that money to others.

With the same small investment I’ve helped different entrepreneurs buy sewing machines, agricultural supplies, and building materials, and never lost a penny.

Minister Julian Fantino should involve the Canadian International Development Agency in more microfinance agencies because unlike many other forms of aid, it is carefully administered and the money works more than once.

Nathaniel Poole