Aug. 11 (Bloomberg) — Bill Gates, the world’s richest man, wants to provide the poor with a safe place to put their money.
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Banking can be a way out. “It sounds less direct than a loan,” says Christen. “Except that as you go up, things happen, and you get pushed right back down again, because you don’t have safety nets.”
Acting through a long list of partner institutions such as Opportunity International Inc. and the Aga Khan Foundation U.S.A., the Gates foundation funds so-called “agent banking.” The aim is to make banks hook up with retailers in villages or neighborhoods where cashiers can take people’s deposits and funnel them into their accounts.
via Bloomberg.com.
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