MEDIA RELEASE
Released By:
Billson
Microcredit is an important part of Australia's aid program and is
helping lift people out of poverty in the Asia-Pacific region, where two-thirds
of the world's poor or 700 million people are living on less than US$1 per
day, Parliamentary Secretary to the Minister for Foreign Affairs, Bruce Billson
said today.
Speaking at the International Year of Microcredit Conference 2005 in
Melbourne, Mr Billson said that in the right settings, microcredit can help
people to work their way out of poverty through self employment and
microenterprise development.
'Microcredit provides the poor, who often don't have access to other
means of earning an income, with small loans to turn existing skills and market
opportunities into small businesses. It also empowers communities and
individuals through financial inclusion,' Mr Billson said.
'Women in particular benefit from microfinance as they are the least
likely to own property, have a personal income or direct access to money.
'Through AusAID, Australian Government funded microcredit initiatives
have helped hundreds of thousands of poor families access financial services in
Sri Lanka, China, Indonesia, Papua New Guinea, the Philippines, Vietnam,
Cambodia and Laos.
'In Tianjin, China, microcredit initiatives have helped women laid-off
from their jobs set up sustainable businesses that now employ around 2,700
people.
'In Bangladesh, an AusAID microfinance program provides financial
services to almost 23,000 households, the majority of which have no land and
don't grow enough food to feed themselves,' Mr Billson
said.
The conference, organised by the United Nations Association of Australia, is
examining the success of microcredit in reducing poverty. The Australian
Government has provided $10,000 to support today's
conference.
Australia has contributed around $73.4 million to microfinance in the
Asia-Pacific region since 1998-99 including an estimated $13.4 million in
2004-05.
Media inquiries:
Shane Fairlie (Mr Billson's office) 0408 680 442
AusAID (Public Affairs) 0417 680 590