S6E26 - Breaking the Rules Saves Lives!

We could solve thirst on earth by breaking all the banking rules!

How do banks decide to grant you a loan?

Well, they check your background and how much you own and earn. 

As a result, banks don't lend money to the poorest people as they never pass their screening process.

Most of the poorest people on earth also belong to the 2 billion humans that lack access to safe drinking water.

But here's the thing: as long as you don't have access to water, you're literally trapped in poverty.

To escape it, you need money to equip yourself with a pump, a well, or a tap. And as we've seen, banks will never grant you a loan.

That's where Water.org kicks in, with their microcredit approach called Water Credit.

Without any background check or caution, they lend money to these people that traditional approaches left aside.

And not only does it drastically better their life, Water.org's also reports a 99% payback of their loans!

A sign that we could solve thirst on earth by breaking all the banking rules!

 

Wanna dive deeper into the topic? Check out my exploration of the Problem with Water Charities. 

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