Poverty is defined as scarcity and lack. Poverty has global impact with almost half of the worlds population living on less than US $1 per day. Poverty fuels instability and an insecure society. With the World becoming an ever smaller community, instability and insecurity in one nation affects the stability and cost of doing business in another. Global society benefits from peace and economic stability. More than half a billion people in poverty could create jobs and increase their incomes if they had access to financial services. Microfinance is the provision of financial services - loans, savings and insurance, to those excluded from the formal financial system. Typically the loans are small (as little as US $25), for short terms (3 months) and unsecured. They benefit the poor by enabling them to increase incomes, smooth income streams, reduce vulnerability to economic shocks and improve quality of life. The provision of Microfinance is a hand up not a hand out. Microfinance benefits community's by enabling the development of micro-enterprise, creating more jobs, increasing the supply of goods and services to the poor, improving access to education and health and improving stability. This report provides a concise summary of Microfinance in theory and practice and is aimed at motivating an inspiring others to get involved and make a difference. [Show full abstract]

The New Zealand Kellogg Rural Leaders Programme develops emerging agribusiness leaders to help shape the future of New Zealand agribusiness and rural affairs. Lincoln University has been involved with this leaders programme since 1979 when it was launched with a grant from the Kellogg Foundation, USA.