Word: creditably
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Folkert is what's known in the philanthropic world as a "microfinancier." Pioneered by last year's Nobel Peace Prize winner Muhammad Yunus, microfinance is the making of tiny loans to credit-poor entrepreneurs. Yunus began in 1976, with $27 loans to impoverished farmers, financed from his own pocket. Today about 10,000 microfinance institutions hold more than $7 billion in outstanding loans. As Yunus told TIME last October, "At the rate we're heading, we'll halve total poverty...
...Bolivia, for instance, the attractive returns in microfinance have saturated the market with new consumer-credit providers that operate without strict controls. "Screening processes are much less careful, and people can find themselves drowning in debt," says Elizabeth Littlefield, director of the World Bank's Consultative Group to Assist the Poor. Microfinance investors, however, argue that the market isn't saturated enough. More lenders would bring down the interest rates that investors often must charge to cover costs--which are sometimes as high as 60%. "Scaling up will bring lower costs for all borrowers," says Geoff Davis...
Look closely at the numbers, though, and women don't seem so hopeless with money after all. Median annual credit-card debt for single women was just $1,900 in 2004, compared with $2,000 for single men, according to the Federal Reserve Board's Survey of Consumer Finances. But don't tell that to Glinda Bridgforth, author of Girl, Get Your Credit Straight!, who recommends visualization and meditation to help us break plastic's grip on our financial well-being...
...Expenditure Survey. But that's chump change compared with what single men spend on car ownership ($846 more than single women), eating out ($752 more), alcoholic drinks ($280 more) and audiovisual gear ($143 more). Cutting back on needless spending isn't a bad idea for anyone, but "renegotiating your credit-card balances or getting a lower cost on your IRA probably saves you a lot more money," says Christian Weller, an economist at the Center for American Progress. "That's much more prudent advice to women than saying 'Don't go buying all those Prada shoes...
Both the Harvard Green Campus Initiative (HGCI) and the Resource Efficiency Program (REP) credit Robert M. Gogan, supervisor of waste management at Facilities Maintenance Operations, for Harvard’s strengthened recycling efforts...