Short Answer Flashcards
What is micro credit?
Micro credit is a banking system that gives small loans to women so they can start businesses.
Who invented micro-credit?
Doctor Muhammad Yunus invented micro credit.
What does micro-credit allow women to do?
Micro credit allows women to lift their families out of poverty.
How successful is micro credit?
Micro credit is 98% successful.
How did Maisana start a business with micro credit?
With a loan, Maisana started a mustard oil business, using the money to buy mustard seed. Using her dad’s old oil crushing machine and the seed she made mustard oil which she sold in the market.
What was Maisana able to do for her family with micro credit?
Maisana was able to:
- rebuild her house
- buy more land->more crops->more food
- buy oxen
- buy a new crushing machine
- send her children to school.
What is Oxfam?
Oxfam is an NGO which promotes fair trade.
How do Oxfam’s democratic cooperative markets help farmers?
Oxfam’s democratic cooperative markets help farmers to distribute coffee themselves and give farmers equal share of profits.
