As someone who is relatively new to the world of microfinance, the past six months working with the exec team of Wokai Toronto has been eye opening. We often hear about the explosive growth and modernization that China is currently undergoing, but what gets left out is that over 100 million Chinese in rural areas live below the international poverty standard of less than a dollar a day.
Wokai is a global organization that has identified this problem, and is dedicated to helping those people lift themselves out of poverty through the power of microloans and empowering Chinese entrepreneurs to start small businesses. The results are a 99.5% repayment rate and hundreds of new entrepreneurs that are on the path to a better life.
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