Developing World s Issue Of Poverty - 1509 Words

Almost half of the world lives on less than $2.50. At least 80% of humanity lives on less than $10 a day. According to UNICEF, 22,000 children die each day due to poverty. Poverty is an ever-present issue that affects the lives of billions of people each day. There are many government subsidies that come into impoverished areas, but does money solve the issue of poverty? No, money alone cannot solve the world’s issue of poverty. In this paper, I want to discuss the role of microfinance in the developing world. Microfinance can be done poorly, which will continue to stunt the economic growth of an area, but if done properly microfinance can being human flourishment to a developing area. In order to take a closer look into microfinance, I will highlight the efforts that Kiva, an online lending company, has done to improve the economic horizon for many areas of the world. The result of scarce economic growth can have catastrophic results on a community, region, and even country. A downward spiral will be begin when there is no growth; parents are unable to send their children to school due to a lack of money, which creates the need for the children to work to help bring in money. Uneducated youth will then start to become a cycle that will slowly decrease the economic growth of the community due to lack of education and the loss of upward mobility. Stunted economic growth will affect the well being of future generations. This picture of poverty is seen throughoutShow MoreRelatedChallenges Faced By The Country Of India1280 Words   |  6 Pagesevolving and developing country finding its footing in establishing themselves as a global power as well as developing internally. Many domestic problem exist, having grown and evolved from the foundation of India. Their issues consist of gender inequality, religious intolerance, economics, international rela tions, as well as corruption. Those are only some of the many problems which they face. 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