Word: patrimonio
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Dates: during 2005-2005
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...hours (for villagers without regular electricity) and an extra-loud volume for use in noisy markets. The poor need innovative models of financing too. When cement supplier Cemex, based in Monterrey, Mexico, was looking to kick-start sales after Mexico's mid-1990s financial crisis, it founded Patrimonio Hoy, a combination builder's "club" and financing plan that targets homeowners who make less than $5 a day. It recruited 510 promoters to persuade new customers to commit to building additions to their homes. The customers paid Cemex $11.50 a week and received building materials every 10 weeks until the room...
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