Friday, July 29, 2005

Women’s Only Bank has outstanding success

(From Pakistan): First Women lends mostly to women without collateral and has a 96% loan-recovery rate. It was founded in 1989 by then Prime Minister, Benazir Bhutto, as a vehicle of female empowerment. The literacy rate among Pakistani women is barely 30%, about half those of men. Just 10% of Pakistani women participate in the non-domestic workforce, and when they do, their salaries are half those of men.

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