HC Deb 03 June 1998 vol 313 c231W
13. Mr. Goggins

To ask the Secretary of State for International Development what action she is taking to support the use of microfinance in developing countries. [42510]

Mr. Foulkes

We believe that microfinance—savings and credit—can be a powerful tool to support the livelihoods of large numbers of poor people in developing countries. For the past ten years, the UK has provided increasing support to projects and institutions engaged in microfinance. Our current commitments to date and projects in the pipeline amount to about £60 million and we anticipate increasing resources in this field.

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