The very survival of some communities depends on their ability to adapt to the effects of climate change. Meanwhile, the cost of financing adaptation is soaring, while private sources fund just a tiny portion of this. Enter impact investing.
BRAC International Microfinance – which provides financial services to ‘bottom-of-the-pyramid’ customers, particularly women living in poverty – set to “grow significantly” and expand into three new countries over the next five years.
Small, low interest loans to the poorest people can transform lives and level up communities, but traditional microfinance has never taken off in the UK. What’s more, Brexit dealt it a near-fatal blow.
“Everything starts with imagination,” the Nobel prize laureate says, calling on social entrepreneurs to follow the lead of science fiction creators – and advising budding intrapreneurs to be “outrageously bold” in their ideas.
PLUS: Impact bond firsts in Cambodia and Palestine, Big Issue Invest backs lottery business, Bamboo Capital Partners invests in Indonesian peer-to-peer lending platform, VisionFund raises £10m for microfinance – and more.