The 41st World Economic Forum Annual Meeting held in Davos, Switzerland recently highlighted various important issues surrounding global economic growth. During the five-day forum, the issue of poverty was high on the agenda with several leaders emphasising the need to assist the world’s poor through economic growth.
Chanda Kochhar, Chief Executive Officer of ICICI Bank, the largest private bank in India, said that growth will only be sustainable if it is inclusive of the world’s poor and jobless.
"It is just imperative for all of us as companies and as countries to focus on saying that 'I'm making our growth more inclusive'," Ms Kochhar said.
"Gone are the days (when) it's just enough to say that some people will earn theirs, and then they will distribute," she said at a closing panel on the Global Agenda in 2011. "I think the model has to shift to the grass roots to say, 'can we create enough basic stability plus employment generation opportunities for each and every of the small individuals ... to participate in growth.'"
In an effort to battle the issue of poverty, 17 companies have partnered with the World Economic Forum to support poor farmers and their families. The initiative involves making farming an economically sustainable business, and enabling their children to receive an education.
At Opportunity International Australia, we provide a sustainable solution to poverty, using small loans to enable people to start their own business, earn an income and participate in their local economy. By doing so, clients are able to feed their families, educate their children and save for the future. If you would like to help by providing a small loan, please click here.
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