MICROFINANCE IN THE DEVELOPING WORLD

Early day motion 1910, tabled 28 March 2006 by Keith Vaz (Labour). Signed by 51 members.

That this House supports the efforts of governments and non-governmental organisations in providing microfinance schemes to those living below the poverty line in the developing world; recognises that the poorest of the developing world lack the relatively tiny sums of investment capital required to start a business and become self-employed; further notes the recent report of the Microcredit Summit Campaign that in 2004 more than 66 million of the world's poorest people, 84 per cent. of them women, received tiny loans last year to start or expand micro businesses; and fully supports microfinance projects as effective and efficient schemes that tackle poverty, reduce the need for aid, empower women and spur development.

Signatures by party: Labour 30, Liberal Democrat 15, Conservative 3, Social Democratic and Labour Party 2, Scottish National Party 1.