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