Already present in over 30 countries, I am thrilled to announce PlaNet Finance has a new affiliate in Israel since January 2007. This affiliate’s mission is to facilitate the development of microfinance in Israel. More than 20% of the Israeli population lives below the poverty line; it is urgent to develop innovative tools that tackle poverty in this particular country. It is why PlaNet Finance Israel was created.
Since 1998, PlaNet Finance has actively worked toward promoting a sustainable, worldwide microfinance sector in order to alleviate poverty. Providing people excluded from traditional banking systems with access to financial services has been recognized by the international community as an effective tool toward poverty reduction and general life improvement for the poor.
As a very dynamic entrepreneurial society, Israel has witnessed many initiatives promoting economic empowerment for low income people and minorities. But access to credit remains difficult and microfinance is still at a nascent stage. PlaNet Finance Israel’s role is thus to act as a platform accompanying local organizations in developing microfinance programs.
Currently, in order to better assess the potential of microfinance in Israel, a feasibility study is being carried out. The ensuing public report will be used as a foundation on which to build and implement relevant programs, specifically tailored to the needs of Israel.
PlaNet Finance supports its affiliate in Israel.