A Billion Bank Accounts
The United Kingdom Department for International Development (DIFD) has put together an action plan to get one billion of the poorest people in the world to open their own bank accounts for the first time. While world economies are on historic highs, some two billion people around the world still work for less than a dollar a day. A program to help many of these people open bank accounts could see the beginning of the end of a life in poverty. Ed Balls, UK Economic Secretary believes that fair access to micro-credit and banking services are a ladder to development and poverty reduction the world over. Access to a bank account gives an individual greater control and security over their money, and a loan from a micro credit organisation can be vital in promoting enterprise. Read more from the DIFD press note.