Archive for category: Global Poverty

Key articles and information on global poverty.

3 Organizations Fighting Malnourishment In Nigeria

malnourishment in NigeriaUNICEF reports that 37% of children in Nigeria experience malnourishment. With a population of 213.4 million in the African country, 6 million Nigerian children suffer from severe hunger and stunted growth. The root causes of malnourishment in Nigeria include poverty, inadequate sanitation and food restrictions. The following is an overview of the efforts to alleviate malnourishment in Nigeria.

Action Against Hunger

Action Against Hunger reveals that Nigeria is Africa’s most popular and wealthy nation due to its fast-growing economy. However, the organization’s website reports that “Despite this, more than half of the country lives below the poverty line and northern Nigeria suffers with widespread child undernutrition. In 2020, 7.9 million people were in need of humanitarian aid.” The reduced access to food, clean water and sanitation facilities results in malnutrition and severe hunger. Additionally, the lack of basic services caused by poor knowledge of healthy feeding practices for young children results in extreme hunger.

Northeast Nigeria has faced food insecurity due to the conflicts involving the Boko Haram insurgency since 2012. In situations like this, it is more challenging for humanitarian organizations such as Action Against Hunger to positively intervene. However, Action Against Hunger works hard to operate within the most affected areas in the country — already reaching more than 2.4 million people facing malnourishment in Nigeria.

Here are some of Action Against Hunger’s efforts in Nigeria:

  • supplying monthly food assistance to 210,00 people in Borno and Yobe states
  • producing farming, fishing and vegetable garden training programs to improve families’ access to food
  • strengthening the health care system in preventing malnutrition for pregnant and breastfeeding women
  • improving people’s access to safe water by building and restoring water points
  • supporting people who have fled conflict by distributing hygiene kits and providing shelter

United Nations International Children’s Emergency Fund (UNICEF)

With 45% of all child deaths in Nigeria among children 5 and under being caused by malnutrition, UNICEF’s program intends to support the government in diminishing this tragedy. It implemented the National Plan of Action on Food and Nutrition, which sustains health and community systems by including nutrition in every aspect of the primary health care (PHC) system — focusing on micronutrient supplementation, community management of acute malnutrition (CMAM) and infant and young child feeding (IYCF) interventions.

Other sectors that UNICEF’s nutrition interventions support in Nigeria include:

  • antenatal care
  • the prevention and control of pneumonia and diarrhea
  • immunization
  • deworming
  • distribution of insecticide-treated mosquito nets
  • adolescent girls’ and maternal nutrition

UNICEF reports that, since 2009, it has been “supporting Nigeria’s community-based program for the treatment of severe acute malnutrition. Since then, the program has grown significantly to become one of the largest UNICEF-supported treatment programs in the world.”

Action Contre la Faim

For more than 40 years now, Action Contre la Faim has fought hunger and malnutrition around the world. It began its mission to alleviate malnutrition, specifically in Nigeria, in 2009. Currently, with a team of 394 people, Action Contre la Faim supports the progression of the country with multiple interventions. These interventions surround sectors such as Nutrition and Health, Food Security and Livelihoods, Access to drinking Water, Sanitation and Hygiene, Advocacy and Mental Health and Psychosocial Support.

Action Contre la Faim states that “In 2021, global acute malnutrition rates reached one of the highest levels recorded since 2016. Nigeria also experienced a significant cholera epidemic, which affected the north of the country especially.” Also, the non-government-funded organization reports that “In 2021, ACF supported communities and systems, helping them to improve their resilience, and continued with its nutrition and health emergency response, providing humanitarian assistance to populations impacted by conflicts and natural disasters.”

The organization was able to combat severe malnutrition in Nigeria by providing treatment for women and children — as well as introducing health education programs. Combined with the renovation and contraction of water supply points and sanitation facilities, Action Contre la Faim was able to “respond to the needs of displaced populations and of communities affected by the cholera epidemic.”

What is Next?

Despite these organizations’ great efforts and accomplishments to tackle malnourishment in Nigeria, an estimated 88.4 million Nigerians continue to live in extreme poverty. With poverty being the main cause of severe hunger among people living in the country, there is a need for poverty alleviation in the fight against malnourishment in Nigeria.

– Katerina Petrou
Photo: Flickr

5 Key Insights Into the Gender Wage Gap in Lebanon

Gender Wage Gap in LebanonLebanon borders Syria to the north and east, the region of Palestine to the south and the Mediterranean Sea to the west. A Middle Eastern nation with a varied landscape ranging from picturesque coastlines to the majestic Lebanese Mountains, the country has earned recognition for its rich history and cultural heritage. However, Lebanon faces several socioeconomic challenges, including a persistent gender wage gap. Here are five key insights into the gender wage gap in Lebanon and the growing efforts to close it.

The Problem

  1. Significant Wage Disparity: According to a recent study published by the University of Sciences and Arts in Lebanon (USAL), Lebanese women earn an average of 16%-19% less than Lebanese men. And while it has made progress in women’s rights, Lebanon retains one of the highest overall gender gaps globally, placing 119 out of 146 countries in the 2022 World Economic Forum Gender Gap Report.
  2. Education Does Not Mean Equal Pay: Despite improvements in women’s education in Lebanon, data reveals that the gender wage gap widens with education. For instance, the wage gap between Lebanese women and men with university-level or higher degrees is 20.2%, according to the United Nations Development Program’s (UNDP) 2021 Lebanon Gender Analysis report. Additionally, despite having nearly equal access to education, just 23.5% of Lebanese women were employed as of 2021, compared to 70.9% of men.
  3. Occupational Segregation: Employers’ perceptions and decisions regarding hiring and promotions are influenced by deeply-ingrained gender stereotypes and traditional roles that persist in Lebanese society. For example, according to the UN’s 2022 Women’s Economic Participation in Lebanon analysis, men dominate higher-paying sectors like engineering and technology, while women find themselves disproportionately clustered in lower-paying industries like education and administration. Such occupational segregation contributes to the widening gender wage gap in Lebanon, limiting women’s earning potential and opportunities for career advancement. 
  4. Limited Leadership Representation: Similarly, women face difficulty obtaining managerial and leadership positions, which frequently offer higher salaries. The underrepresentation of women in decision-making positions across the public, private, political and academic sectors greatly contributes to wage disparity. 
  5. Unpaid Care Work: A 2018 World Bank report revealed that Lebanese women disproportionately bear the burden of unpaid care work and household duties. Consequently, many women sacrifice paid employment, reduce their working hours and endure frequent career interruptions, all of which negatively impact women’s earning potential and Lebanon’s economy as a whole. For example, the report estimated that a 25% reduction in the Gender Participation gap would spark a 9% increase in the country’s GDP. 

Ongoing Efforts

Here are five ways that Lebanon and the international community are working to achieve progress in reducing the gender wage gap in the country.   

  1. Government Interventions: In 2018, the Lebanese government launched a public awareness campaign to promote gender equality and reduce gender-biased social norms. The campaign aimed to change attitudes, increase women’s awareness of equal-pay rights and foster a culture of mutual respect.
  2. The Women Economic Empowerment for Lebanon Project (WEEL): Part of the European Union for Women Empowerment (EU4WE) Project in Lebanon, this program provides grants ranging from €15,000 to  €50,000 to up to 20 women-owned and women-led businesses and startups in Lebanon. A joint initiative of the Lebanese company Berytech and Expertise France, the EU-funded program aims to promote gender equality and reduce gender-based violence in Lebanon through financial empowerment.
  3. Lebanese League for Women in Business (LLWB): LLWB is a nonprofit organization that advocates for equal opportunities for women in business and entrepreneurship. It provides networking platforms, mentorship programs and training to support women’s professional growth and bridge the wage gap. In 2021 alone, the LLWB achieved remarkable milestones, establishing more than 31 new local and international partnerships and raising $852,197 to tackle gender disparities. Additionally, it implemented more than 350 training initiatives and workshops to support women entrepreneurs in Beirut, North Lebanon and Bekaa and benefited more than 1,400 women, including farmers, professionals and entrepreneurs.
  4. KAFA: Meaning “enough” in Arabic, KAFA is a nonprofit founded in 2005 to combat gender-based violence and discrimination. It advocates for women’s labor rights and equal pay, strives to economically empower women through awareness campaigns and supports research and legal advocacy initiatives. In 2020, KAFA received 9,763 calls and successfully implemented the “Men and Women for Gender Equality Program.” The UN Women provided funding for this program that aims to address the underlying reasons for gender inequality. The program implemented measures to alter biased societal norms regarding gender, supported civil society groups in advocating for legal and policy reforms and urged the government to enforce laws that promote gender equality.
  5. The United Nations Development Programme (UNDP) Lebanon: As part of its 2030 Agenda, UNDP Lebanon has prioritized women’s social, economic and political advancement in Lebanon. Taking a holistic approach to gender equality, its initiatives promote equal pay and employment opportunities for women, increasing women’s political and leadership presence, guaranteeing legal protections and eliminating gender biases.

Looking Ahead

Through ongoing efforts, Lebanon and the international community are working to address the underlying issues behind the country’s persistent gender wage gap. By supporting women’s social, economic and political empowerment, they are paving the way for a more prosperous and just future for the country as a whole. Still, there appears to be room for more effort and progress. Efforts such as targeted legislation, promoting equality in hiring, promotion and pay, alongside changing social attitudes could go a long way in closing the gender wage gap in Lebanon.  

– Kassem Choukini
Photo: Flickr

4 Projects Working to End Period Poverty in The Gambia

Period Poverty in The GambiaIn lower and middle-income countries, period poverty significantly hinders the improvement of women’s health and economic empowerment. Period poverty refers to the lack of access to menstrual sanitary products, hygienic washing facilities and sexual and reproductive health education. Unfortunately, this problem particularly affects developing countries, where ongoing socioeconomic challenges and cultural stigmas surrounding menstruation worsen the situation.

Impacts of Period Poverty

The World Bank reports that more than 500 million people worldwide face the effects of period poverty. This issue can have severe consequences, as it exposes women to urogenital infections when they use inadequate substitutes like cloth pieces or plantain leaves. Additionally, females may suffer in terms of dignity, societal participation, school attendance, economic independence and mental health.

Period Poverty in the Gambia

In The Gambia, period poverty is widespread, especially in rural areas. The United Nations Sexual and Reproductive Health Agency (UNFPA) conducted a survey in The Gambia’s Lower River Region, which revealed that three out of 10 women manage their menstruation using old cloth strips instead of sanitary products. Consequently, due to the lack of menstrual products and safe hygiene facilities, some girls miss school during their period and lag behind academically compared to their male peers. However, four initiatives in The Gambia are working to eliminate period poverty in The Gambia and empower girls and women economically.

4 Projects Working to End Period Poverty in The Gambia

  1. UNFPA Women Empowerment and Peacebuilding Initiative – UNFPA implemented this initiative in 2021 and is operating in Basse, in The Gambia’s Upper River Region. It has set up a production facility and trained 15 local women to make reusable sanitary pads, which are provided free to students in schools and to the women working. This project also provides comprehensive health education to students to learn more about their physical health and bodily autonomy. In providing local women with skills and employment opportunities, this UNFPA project provides them with income and decision-making opportunities that will make a great difference in the rural area.  This initiative hopes to provide an environmentally friendly solution to period poverty in The Gambia, as well as to strengthen communities and prevent girls and women from being discriminated against due to menstruation stigma.
  2. The Gambian American Foundation – Founded in 2019, The Gambian American Foundation is an NGO  that aims to advance social and economic development in The Gambia. This is done through providing resources, leadership, donations and expertise on various socio-economic issues within the country. It “envisions a society in which people are empowered at the fullest to achieve all their human development and potentials, for their individual well-being and for the society’s greater good.” One of its projects is campaigning against ‘Menstruation Poverty and its Impact on Girls’ Education and Sexual Health. This project aims to provide 250 schoolgirls with regular access to sanitary products, both at home and at school. The students are also provided with self-esteem-building workshops and information sessions on reproductive health. As an outcome, this project hopes to reduce school absences to improve their academic future and to maintain good reproductive and sexual health.
  3. Project Gambia – Project Gambia is a nonprofit organization, founded in 2007, that works alongside partners both within The Gambia and the U.K. to set up a variety of initiatives in villages, farms and schools to alleviate poverty in a sustainable manner, through volunteer trips, child sponsorship, Christmas donations and project fundraising. In collaboration with The Gambia Teachers’ Union, this nonprofit organization launched the ‘Let’s See Red’ project in 2022. It provides menstrual health education and instructions on manufacturing sanitary products to 40 teachers, who can then educate students in Gambian communities and create long-term access to menstrual products. It is also dispensing packs of reusable sanitary pads to schools. Through this scheme, Project Gambia hopes that women will be able to continue to study and work on their periods, as well as remove cultural stigmas surrounding menstruation through education.
  4. Girls’ Pride – Established by Fatoumatta Kassama in 2017, Girls’ Pride focuses on eliminating period poverty, improving maternal and child health and maintaining girls’ school attendance during menstruation in The Gambia. It aims at improving maternal and child health, maintaining girls’ school attendance during their menstruation periods and creating job opportunities for local women. It manufactures and distributes reusable sanitary pads, offers counseling services and provides training to women and girls to make pads and educate their communities about period hygiene. Kassama grew up in The Gambia, where she faced challenges managing her periods due to cultural taboos and lack of access to products. Inspired to bring about change, she founded Girls’ Pride. The organization manufactures and distributes reusable sanitary pads to schoolgirls, provides counseling services and trains 35 women and girls, alongside 26 school teachers to make pads. These trainees then pass on their knowledge to others in their communities. The Comprehensive Health Education project, funded by the International Development Research Centre, coordinates this training. As a result, students can use the pads for themselves and donate extras to Pad Banks in schools. In addition to production, Girls’ Pride prioritizes education. The organization has educated 623 girls on period hygiene and 923 boys on period shaming and cultural taboos.

Looking Ahead

These programs and organizations are doing vital and inspiring work to address period poverty in The Gambia. Due to ongoing efforts, menstruating individuals in The Gambia can look forward to higher school attendance, greater dignity, improved physical and mental health, and better economic mobility.

– Eleanor Moseley
Photo: Flickr

Kyrgyzstan’s Combat Against Statelessness

Kyrgyzstan’s Combat Against StatelessnessIn Kyrgyzstan, statelessness has become a significant issue due to continuous internal and external migration and changes in the country’s borders since its independence in 1991. Statelessness occurs when a person is not recognized as a citizen of any functioning nation by law, often resulting from discrimination, migration, or conflicts between opposing nationalities.

Offering individuals a national identity is crucial, enabling access to education, employment, housing, health care and political rights like voting. Kyrgyzstan’s efforts to combat statelessness hold immense importance in ensuring the well-being and inclusion of affected individuals.

Global Aid to End Statelessness

To tackle Statelessness, the United Nations Refugee Agency (UNHCR), created a Global Action Plan in 2014 titled the #IBelong Campaign to End Statelessness. The goal of the program is to eliminate statelessness by 2024 by implementing 10 actions. These actions include removing gender discrimination from nationality laws and providing protection status to migrants. These actions serve as guidelines for countries dealing with this problem.

Through these National Action Plans, the UNHCR works closely with countries in implementing new laws, allying with them through a clear outline to end statelessness called the 1961 Convention on the Reduction of Statelessness, and monitoring the country’s efforts to reduce and prevent statelessness. Despite their best efforts, cases in Kyrgyzstan continue to appear due to legal gaps, and legal barriers within the administration. 

In the same year the #IBelong Campaign began, Kyrgyzstan’s efforts against statelessness took off by joining the campaign and allying with the UNHCR. From 2014-2017, birth registration reached a high rate of 98%, and on July 4, 2019, Kyrgyzstan became the first country to solve the issue of statelessness.

With the UNHCR, the Kyrgyz Republic identified more than 13,000 stateless persons including 2,000 children. By obtaining a birth certificate and passport, the newly identified people of Kyrgyzstan took their first steps in acquiring a national identity.

Welcoming Children as Kyrgyzstan Citizens

Even though Kyrgyzstan has successfully fought against statelessness, it is essential to continue taking action to prevent the issue from recurring. Thus, on June 24, 2023, the Kyrgyzstan government in alignment with the #IBelong Campaign implemented a law that will provide birth certificates and registration for all children born in the nation regardless of whether or not their parents are undocumented or stateless, including children born prior to this new implementation.

In a 2022 survey conducted by the United Nations (UN), an estimated 5,000 families reportedly benefitted from this law. Alongside establishing a nationality, birth certificates ensure to ensure the protection of children’s rights. This is to help children obtain government assistance and access quality education.  

Without crucial legal rights, many stateless persons face disadvantages such as economic and political marginalization. Also, putting an end to statelessness can potentially uplift several thousands of people from extreme poverty by providing them with access to sufficient housing, employment opportunities and health care services.

Looking Ahead

Overall, Kyrgyzstan’s successful efforts to combat statelessness through the #IBelong Campaign and collaboration with the UNHCR have resulted in significant progress, granting several thousand individuals a national identity. And by eliminating statelessness, Kyrgyzstan is paving the way for improved living conditions and opportunities for its citizens, helping uplift them from poverty and marginalization.

– Kenzie Nguyen
Photo: Flickr

The Catch-22 of Crime and Poverty in Haiti

Crime and Poverty in HaitiHaiti is both the poorest and most dangerous country in the Caribbean, the World Bank says. Political instability, civil unrest and a geographic location with a high risk of natural disasters keep almost 60% of Haitians below the international poverty line. Simultaneously, Haiti ranks 58th on the Global Organized Crime Index of 2023, and the U.S. has issued a warning against travel to Haiti because of dangerous conditions related to gangs and other organized crime. In other words, crime is rampant in an already impoverished nation. The connection between crime and poverty in Haiti results in a catch-22, or vicious, cycle. In this country, crime exists because extreme poverty exists. 

Poverty as a Breeding Ground for Gang Violence in Haiti

Simply put, political dysfunction, natural disasters and the COVID-19 pandemic have ensured that as of 2023, more than half of Haitians live below the poverty line. This poor circumstance allows organized crime to thrive. A lack of jobs and government instability open space for gangs to offer the structure, stability and income that Haitians desire. Haiti has such poverty, desperation and lack of political strength that more than 200 gangs have formed in the last five years. However, gangs do not offer the social stability or solution to poverty that Haitians might hope for. 

Nearly 100 gangs, half of the gangs in the entire country, currently fight for control of Haiti’s capital, Port-au-Prince. So many rival gangs in such close proximity cause extreme danger for Port-au-Prince’s residents, but Haiti’s current government is not powerful enough to regain control of the city. 

Gangs do not lift Haitians out of poverty the way that official government action could. For instance, by building infrastructure, protecting against natural disasters, increasing education rates or developing industry. Rather, gangs introduce extreme violence and cause long-term damage to a country already ransacked by extreme poverty.

Gangs are responsible for much of the crime in Haiti; the crime rate has more than doubled from 2022 to 2023 and more than 1,600 crimes occurred in just the first quarter of 2023. These crimes, including homicides and kidnappings, impede both immediate and long-term solutions to poverty because crime wrecks stability. Children, for example, run the risk of shootings at school and in the streets, impacting their education and the chance of a prosperous future. In other words, the crime-ridden atmosphere that poverty creates guarantees that poverty will continue — the catch-22 of crime and poverty in Haiti. 

Aid to Haiti

Despite the catch-22 that encloses Haitians in an unending loop of danger and poverty, some hope remains outside the loop. The U.S. has a close partnership with Haiti and is responsible for the largest amount of humanitarian aid sent to Haiti in 2023. Since 2021, USAID has provided Haiti with a total of $278 million for humanitarian assistance, societal advancement and the development of a reliable health care system; more than $110 million of this aid has come in 2023.

In addition to USAID, many nonprofit organizations work in Haiti to promote health, development and safety despite the threat of gangs. In fact, Haiti is known as the “republic of NGOs” due to the amount of aid that has poured into the country from nonprofits since the earthquake of 2010.

Hope for Haiti is one particularly successful NGO that aims to promote education among Haiti’s children. To date, Hope for Haiti has paid the salaries of 400 teachers, which opened space for more than 4,000 children to attend school. Regular school attendance guarantees Haitian children some form of stability amid the chaos of a gang-ridden country, allowing them the opportunity of a promising future. 

Although crime in Haiti is at an all-time high, which cycles into high poverty rates, the support of the U.S. and NGOs helps millions of Haitians living below the poverty line. 

– Suzanne Ackley
Photo: Unsplash

Tackling tuberculosis in Moldova: The Stop TB Partnership 

tuberculosis in MoldovaTuberculosis, a bacterial lung infection transmitted through coughing and sneezing, ranks as one of the most widespread global diseases, with only COVID-19 surpassing it in death toll. In 2021, TB diagnoses worldwide reached 10.6 million, and Moldova alone accounted for 3,000 cases.

On the bright side, the Stop TB Partnership is diligently working to prevent this treatable yet often fatal disease from gaining a stronghold. The organization’s efforts span the globe, aiming to halt avoidable deaths among those who may not otherwise receive adequate health care.

Combating Tuberculosis in Moldova

  1. Testing Accessibility for the Community – One aspect of disease prevention that the Stop TB Partnership takes very seriously is the testing process, as many may be left undiagnosed, or even misdiagnosed by doctors. Not only this, but many who live in more remote locations do not have sufficient access to testing overall. Notably, Moldova faces a high prevalence of drug-resistant tuberculosis, with 60% of treated cases being this strain. To address these challenges, the Stop TB Partnership collaborates with Moldova’s National Tuberculosis Program to enhance the availability of XPert testing machines in the community. By distributing 30 XPert machines to community health centers, testing facilities catering to TB and prisons, an estimated 64% of Moldova’s population gains easy access to testing. This initiative marks a groundbreaking step, with Moldova becoming the first country worldwide to implement this technology in community centers. Consequently, 1,374 additional TB cases were detected in the first two years of operation.
  2. Raising Community Awareness – While the Stop TB Partnership’s current efforts primarily focus on testing, it has previously undertaken projects that focused on enhancing local communities’ understanding of tuberculosis. To combat tuberculosis in Moldova effectively, there is a need for community members to recognize the disease’s symptoms and respond appropriately when a loved one is affected. In 2009, the Stop TB Partnership partnered with Speranta Terrei, a Moldovan nonprofit, to promote awareness among young children through comic strips. These child-friendly comics, illustrated by Stop TB Ambassador Luis Figo, portray heroes battling TB, effectively disseminating messages about disease prevention and treatment to children in an accessible and enjoyable manner. By distributing these comics to four major Moldovan cities, public comprehension of the disease improves, increasing the likelihood of people seeking testing.
  3. Using AI to Fight TB – In recent years, AI has become increasingly utilized for diagnosing, treating and proposing novel cures for communicable diseases, including TB. As part of its commitment, the Stop TB Partnership introduced AI4HLTH, an initiative that aims to enhance TB diagnosis efficiency through AI technology. The AI effectively assesses chest X-Rays of patients, identifying abnormalities consistent with tuberculosis infection. By employing this crucial tool, doctors are relieved of the burden of manually assessing every X-Ray, allowing them to focus more on treatment after a successful diagnosis. Furthermore, this approach reduces the number of undiagnosed cases due to limited health care staff availability.

Looking Ahead

In the battle against tuberculosis, the Stop TB Partnership is making significant strides with innovative and community-focused initiatives. By increasing testing accessibility through XPert machines and raising awareness through child-friendly comics, the organization is empowering Moldova’s communities to combat the disease. Additionally, the use of AI technology in TB diagnosis streamlines the process and enables health care professionals to focus on providing timely treatment. These efforts offer hope for a future of reduced TB impact in developing countries like Moldova.

– Annabel Kartal-Allen
Photo: Unsplash

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The UN Calls for Debt-Poverty Pause as Global Poverty Rates Rise

Debt-Poverty Pause
The United Nations (U.N.) has called upon global finance ministers to provide a debt-poverty pause for impoverished countries. It has emphasized the need for funding to go toward social programs that will help reduce poverty, rather than toward repaying debts.

A Global Poverty Crisis

The United Nations Development Programme (UNDP) has estimated that the COVID-19 pandemic, paired with the subsequent rise in inflation and borrowing costs, has resulted in an additional 165 million people falling into poverty. The UNDP says that more than 20% of the population worldwide is living on less than $3.65 a day, making it difficult for them to afford basic necessities like food.

In response to the pandemic and the rise in costs of food and fuel, exacerbated by Russia’s invasion of Ukraine, many low-income countries resorted to substantial borrowing. This situation strained their economies as it affected agricultural commodity supplies and led to energy prices reaching close to record levels.

According to the UNDP, approximately 25 low-income countries spent more than 20% of their revenues on debt servicing in 2022. This is the highest number of countries surpassing this threshold since the beginning of the century. This rate can also continue to rise if global interest rates increase further. Debt interest payments account for more than 10% of the general government revenue in 46 countries, and developing countries owe around 30% of the worldwide $92 trillion of government debt. Costs associated with servicing debts are rising quickly, attributed to the actions of the world’s influential central banks, which are raising interest rates in response to the rapid increase in inflation rates.

The rise of interest rates means that poorer nations now spend two or three times the share of their revenues on paying back their debt compared to wealthier countries. Impoverished countries also spend about two times more on interest payments than public assistance and social support programs.

The UNDP Pushes for a Debt-Poverty Pause

The UNDP says that low-income countries need reprieves from repaying their debt to alleviate the repercussions of rapidly increasing borrowing costs. It urges countries burdened with debt to allocate resources typically used for debt servicing toward mitigating the social effects of economic shocks. This approach aims to alleviate some of the adverse effects on society due to these shocks so that the focus can be on poverty reduction.

Looking Forward

The United States (U.S.), the European Union and the other members of the Group of 20 (G20) recently met to discuss global solutions, including debt restructuring and global poverty. However, the debt restructuring discussions made very little progress during the finance meeting of the G20 countries in India.

The UNDP continues to push for debt alleviation to fight global poverty. So far, there have been some elements of international financial activity aiming to increase focus in terms of financing poverty reduction and social programs. However, western countries and the G20 still have work to do. The UNDP has urged Western countries to give developing countries the debt-poverty pause they require to focus their financial efforts on alleviating poverty in their communities.

– Marisa del Vecchio
Photo: Flickr

Herconomy: The First Women-Focused Bank in Nigeria

Women-Focused Bank in NigeriaIn Nigeria, an extremely small percentage of the population have their own bank accounts. Women face limited economic prospects, as Nigeria presently faces a significant gender pay gap and a lapse in financial inclusion. Only 35% of women and 55% of men have access to financial services. Addressing these issues requires a concentrated effort, but with effort, Nigeria can unlock the immense potential of the female population. Driving this economic growth can foster a more equitable and prosperous society.

The Women’s World Bank posits that fewer than 10% of Nigerians have formal credit. This issue significantly affects self-employed women, who constitute an integral segment of the economy yet suffer from restricted economic opportunities.

The First Women-Focused Bank in Nigeria

Herconomy is a bank account designed to aid women in West Africa to gain financial independence. This gives women a choice for a better future for themselves. Herconomy can help reduce poverty by giving women in West Africa the tools they need to become financially independent. When women have control of their finances, they can be a player in the economy. Freedom to pay for education, start businesses and support their families. This can lead to increased economic growth and a reduction in women’s poverty.

Founder of Herconomy Ife Durosimi-Etti believes that her solution is the key to boosting women’s financial independence. To reinforce her conviction, Herconomy’s mobile savings app can save and earn up to 10% in annual interest.

Herconomy is Nigeria’s first women-owned fintech company, dedicating its services to women entrepreneurs. Creating a better economic future to build the bank for women in Africa from their financial services. It offers a vault service that achieves automated savings, earns interest and breaks bad savings habits. The platform also offers Float services to save and withdraw, as well as aiding with saving plans for a user’s future goals.

Successes

This women-focused bank was a recipient of the Black Founders fund of $4 million for fintech startups, backed by Google. This milestone achievement will enable Herconomy to reach new markets, facilitate job creation and create more innovative fintech solutions. Women lead 72% of Herconomy, showing the pivotal impact of women when shaping Africa’s financial ecosystem.

Durosimi-Etti stated that, in the company, “We are harnessing the power of technology to address some of Africa’s most pressing challenges.” The company deepens the mission to build a women-focused bank to ensure women reach their full economic potential.

Herconomy successfully captivated the interest of 500 women participants, leading to collective savings that surpassed $100,000. This noteworthy achievement regenerates the appeal and progress of the Herconomy app which was introduced in 2022. boasting over 5,000 active savers who utilize its features to cultivate their savings habits. The substantial number of participants and the considerable amount of savings amassed are testaments to the app’s efficacy and the positive impact it has had on empowering women to take control of their financial futures.

Looking Forward

Ultimately, Herconomy facilitates the first women-focused bank in Nigeria, emerging as a pivotal landscape to erode the gender pay gap and empower and prioritize financial needs for inclusive economic growth. Herconomy signifies the importance women wield in the startup fintech economy. This new drive of innovation acts as a catalyst for women’s empowerment.

The benefit of $200,000 in cloud credits, ad support, one-on-one mentoring by industry experts and invaluable connections within Google’s network highlights the need for advocating women-focused banking.

– April Plenderleith
Photo: Flickr

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Women’s Rights In Bulgaria: Political Power 

Women’s Rights In BulgariaThe struggle for women’s rights in Bulgaria has been ongoing, but the country is committed to achieving complete equality by 2030. Female leaders in Bulgaria are making progress in protecting women from poverty and discrimination. With more women holding positions in parliament, gender equality is becoming a more prominent issue in Bulgaria.

The Current Challenges for Women

Several inequalities and prejudices still affect women in Bulgaria, leaving them vulnerable and disempowered. The Gender pay gap in Bulgaria was 14.4% in 2018, with women earning lower hourly figures, working fewer hours and facing lower employment rates compared to their counterparts.

Women in Bulgaria are more likely to be at risk of poverty at a rate of 25%, compared to men at a rate of 21%. Bulgarian women also earn a mean monthly earning of 1,078 pps (purchasing power standard), compared to men at 1,256 pps. Without adequate financial power, women struggle to access basic human needs, such as rent, food, health care, etc.

The problem is exacerbated by traditional gender roles that dictate that Bulgarian women should be consigned to being “stay-at-home wives” with no opportunity to pursue a career or have a say in the matter. Women are responsible for cooking and house chores in a staggering 73% of households, compared to only 13% for men as of 2022.

All of these issues combined make women’s rights in Bulgaria particularly hard to amend to achieve gender equality. Out of the 240 seats in Parliament, 65 are women (27.1%). Though this number seems low, it ranks 69th in the world for the highest percentage in women’s political representation, just one place behind the U.S. Though women’s rights and gender equality are still a clear issue, the number of women in politics represent a positive sign of better things to come.

The Influence of Female Political Power

The percentage of women’s political representation has risen from 17.6% to 29.4% since the last mandate. This increase allows women to have greater participation and decision-making power in crucial national matters, including passing legislation to support women’s rights and promote equality. The rise of women in politics has led to new legislation that supports women’s rights and addresses gender inequality. With more women in positions of power, there is a stronger focus on tackling gender disparities.

In 2015, the Bulgarian Government agreed to support the upgrading of the National Strategy for the Promotion of Gender Equality. This aims to provide equal treatment, equal access to resources and equal participation in decision-making, as well as promoting gender equality in social, economic and political life. There are also special policies that ensure equal access to professional training, equal participation in the labor market and equal pay for the same work. Overall, the goal is to provide women with more work opportunities and promote the role of the father in families.

Not only is there hope in new legislation and policies, but there is also evidence showing that equality is improving in Bulgaria. In 2022, full-time employment for women was at 46% and 57% for men. In comparison, the rates were 42% and 45% as of 2015 and 2019, respectively. As more women join the workforce in full-time positions, it provides them with a reliable income that they can utilize to fulfill their basic necessities and invest in their future.

Education

In 2022, women outnumbered men in the percentage of tertiary education graduates, with 27% for women and 20% for men. Education provides better work opportunities for women, allowing them to advance and provide platforms for more women in positions of power. Better standards of education also inform women about their rights, health care and better understanding of the world. Around 42% of managers in Bulgaria are women, making it the third highest in the EU. Additionally, women constitute 44.6% of the workforce in the country’s booming technology sector, ranking second highest in the EU.

Bulgaria also currently holds the second-highest percentage of female scientists and engineers in the EU at 52%. It has now become a female-majority field. Bulgaria has taken significant steps to remove restrictions on women’s work, thereby reducing the likelihood of women being excluded from certain sectors of the economy. This move has led to the diversification of women’s work sectors, enabling them to pursue higher-paying jobs or careers that align with their passions.

Organizational Power

While political power has been beneficial, women in leadership roles in organizations have also significantly contributed to advancing women’s rights in Bulgaria. The Bulgarian Center of Women in Technology (BCWT) was established in 2013 to promote women’s involvement in the digital industry. BCWT takes an active role in regional and international projects, fostering the exchange of good practices and forming valuable partnerships.

Some of the organization’s work includes regular network events to help women build a professional network, create formats for the digital industry and inspire the next generation of young women. BCWT also organizes training to help women from various social groups acquire valuable digital skills. 

Atos, a Bulgarian organization, actively supports women in tech. It develops and backs programs that encourage female empowerment and leadership. Atos also supports women’s access to education and the labor market, particularly in fields like IT and STEM. Additionally, the organization works to foster women’s entrepreneurship and provide resources and opportunities for vulnerable groups of women. Furthermore, Atos implements programs to combat domestic violence, showcasing its dedication to various aspects of women’s well-being and progress in Bulgaria. 

These Bulgarian organizations play a crucial role in pushing women into higher-paying jobs, especially in the technology sector. Both of these organizations have female leaders who are advocating for more women to have high-quality jobs, rather than adhering to the traditional Bulgarian view of a woman’s role as a homemaker.

Looking Ahead

In conclusion, life for women in Bulgaria presents several challenges that call for attention. Nonetheless, progress is evident with more women entering politics and attaining better-quality jobs. Notably, Bulgaria made history by electing its first woman as the mayor of the capital city, Sofia. However, to fully achieve gender equality by 2030, in just 7 years, additional legislation and policies are necessary to safeguard women’s rights. Organizations have played a significant role in helping women secure better job opportunities, making it a collective effort to bring gender equality to Bulgaria.

– Lewis Butcher
Photo: Unsplash

Microfinance in Rural Philippines  

Microfinance in Rural PhilippinesRural areas in the Philippines are home to half of the population, and these communities depend heavily on agriculture for their livelihood. Unfortunately, a lack of previous support has led to persistent poverty in these regions. Fortunately, recent microfinance initiatives are now making significant progress in addressing these issues by providing support to local businesses and improving rural health care.

Rural Poverty in the Philippines

Poverty is a serious issue in the Philippines, with 25% of the population living in poverty. This problem is even more acute in rural areas, where the rural poverty rate stands at 36%. Inefficient farming practices, limited access to basic technology and a lack of alternative opportunities outside of agriculture primarily cause this issue. The impact of rural poverty is especially felt by the indigenous community, women and in areas vulnerable to unstable weather and conflicts.

Microfinance Projects Supporting New Businesses

To promote the growth of microfinance, the Filipino Central Bank (BSP) has introduced incentives and policies to encourage other banks to invest in poverty alleviation. Currently, 82% of its finance goes to supporting small businesses and microenterprises and another 6% goes to micro-agri loans.

The BSP’s microfinance initiatives focus on entrepreneurship and financial competency, providing microcredit and small-scale loans to local startups. These initiatives contribute to better job security by diversifying skills away from agriculture. In 2005, the Asian Development Board (ADB) supported microfinance efforts by providing a $150 million loan to encourage greater use of microfinance, promote financial literacy and support cost-effective institutions offering microfinance services. As these programs expand into rural areas of the Philippines, small businesses will have greater opportunities to access financial resources, which could contribute to reducing poverty.

Microfinance Projects Supporting Health Care

Microfinance in rural Philippines also addresses poverty by supporting medical institutions and improving access to health care. The Barbaza Multipurpose Cooperative (BMPC) is a Filipino microfinance institution that focuses on financing the Western Visayas region of the Philippines, an area with poverty levels of 16.4% and extreme poverty levels of 4.2%.

The microfinance project operates in various ways to assist low-income individuals, including offering medical insurance and providing medical loans during emergencies. This initiative effectively supports those residing in rural areas, especially those who work in informal sectors such as agriculture. The project offers up to $1200 for in-person treatments and $600 for emergency treatments, thus benefiting those who rely on subsistence farming. 

Supporting small-scale enterprises is beneficial, and so is microfinancing health care. Improving the health of a population leads to a stronger workforce and better education, and ultimately helps lift people out of poverty.

Looking Ahead

Microfinance is so essential in supporting small-scale communities and providing direct support to the most in-need groups, which in the case of the Philippines are those in rural regions. Over the past 20 years, microfinance initiatives in rural Philippines have been successful in reducing poverty rates. For instance, between 2005 and 2008, the number of Filipinos involved in microfinance increased from 2.4 million to 5.5 million, resulting in 2.6 million job opportunities.

In rural Philippines, microfinance can be a key tool in reaching those in poverty by supporting entrepreneurship and improving access to healthcare. This approach provides individuals with the necessary support to improve their living conditions.

– Daisy How
Photo: Flickr