With economic turmoil in Europe and concerns over budget deficits and debt in the United States, public spending is receiving heightened scrutiny in major foreign assistance donor countries. Austerity has become the preferred route for many of them, leading the development community to wonder how austerity will affect development and how long this period will last. Austerity in donor countries is already affecting development in a number of critical ways. It is reducing levels of foreign assistance overall and prompting many donors to re-evaluate their aid programs and development strategies. This period will also likely see greater importance for the [...]
Across the developing world, the revolution in mobile telecommunications technology is driving massive changes in access to financial services. Currently, there are 2.7 billion “unbanked” people in developing countries (.pdf). They have few effective ways to save money; accessing credit and transferring money is difficult and expensive; insurance is a dream. Yet, to break cycles of poverty, the poor need access to affordable and versatile financial services. The rapid uptake of mobile phones, even in remote areas and among the poorest of the poor, has the potential to significantly increase financial inclusion. The Grameen Foundation estimates that nearly 40 percent [...]
A famine disaster in the village of Koulikoira in Niger’s south-west is beginning to improve thanks to the efforts of aid agencies. World News Videos by NewsLook
