Not only does Energy improves the quality of life but it also enables micro/small and medium businesses and cottage industries to increase their profitability and productivity. Promoting and implementing the use of clean energy in remote areas is beneficial for both users and the planet. Moreover, clean and safe energy is critical to guarantee the long-term sustainability of both economic and social eco-systems in countries, which often consider environmental and safety issues as secondary.
Microfinance represents a sustainable source of poverty alleviation. As far as we are concerned, this is certainly the best mean of supporting environmentally friendly projects because microfinance mainly focuses on economic development in local areas.
WHAT IS MICROFINANCE ?
Microfinance, from ‘every day survival’ to ‘planning for the future’
Granting small loans at an affordable cost to impoverished people. Ultimately, the goal of microfinance is to give these people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance.
Facts and figures
2006: Mohammed Yunus wins the Nobel Peace Prize for pioneering work in microfinance.
Rising influence: the aggregate number of borrowers served by microfinance institutions (MFIs) grew 21 per cent per year on average in the 2003-2008 period and is still on the rise.
Studies estimate that 10,000 microfinance institutions currently operate in over 100 countries, serving more than 160 million customers.
Who are the main beneficiaries?
Population living in developing and emerging countries.
Population living often just below the poverty line, commonly defined as earning less than US$1.25 a day.
People who cannot target large loans because of their related high interest rates or because they lack assets and collaterals.
Women constitute a majority of borrowers because they represent higher repayment rates.
WHAT IS GREEN ENERGY ?
What are renewable energy sources?
The most important sources of renewable energy are hydropower, solar, wind and biomass. Renewable energy sources’ main assets are their environmental cleanliness, low maintenance and running costs and the fact that they cannot be exhausted.
2.6 billion people still rely on fossil biomass to meet their energy needs.
1.6billion people have no access to modern electricity services.
1 billion peoples rely on defective electricity sources.
80% of the population in sub-Saharan Africa and half of the people in India and China rely on traditional biomass for cooking.
In South Africa, around 200,000 people are injured or lose property because of kerosene related fires each year.
There is a strong correlation between energy and human development.
When poverty diagnosis is carried out, one of the key finding is a strong correlation between poverty and the lack of modern energy services particularly in rural areas. In addition to economic growth, energy is a key factor to social development and communication.
This finding is the pillar of our initiative and a great source of motivation for our team!