Wednesday 28 June 2017

Analysis of Microfinance Banks Support to Agricultural Lending in Edo State, Nigeria.

Globally, 1.2 billion people are extremely poor (surviving on less than USD 1 a day), and three quarters live in rural areas. Poverty is predominantly a rural phenomenon. Extremely poor peoplespend more than half of their income to obtain (or produce) staple foods, whichaccount for more than two thirds of their caloric intake. Most of these people suffer from nutritional deficiencies, and many go hungry at certain times of the year. In recent years, development agencies and national governments have renewed their commitment to reducing poverty, hunger and other human deprivations, as evidenced by the Millennium Development Goals. Among other objectives, the goals aim to halve the proportion of people living on less than USD 1 a day by 2015 (from the starting level of 1990). That means cutting the share of extremely poor people in low- and middle-income countries from 28 to 14%.
journal of fisheries & livestock production

The goals also call for halving the proportion of people suffering from hunger by 2015. Rural poverty and hunger fell sharply between 1975 and 1990, but the rate of poverty reduction has since slowed. Net aid (that is, official development assistance) to developing countries fell from 0.35% of the gross national income in the countries of the Organisation for Economic Co-operation and Development in 1982-83 to 0.24% in 2002-03. The real value of net aid disbursed to agriculture in the late 1990s was only 35% of the level in the late 1980s, according to IFAD. And, although the proportion of the economically active population engaged in agriculture has been falling in developing regions, it still exceeds 50% in Africa and Asia.(Read More)


No comments:

Post a Comment