The central theme of the Millennium Development
Goals (MDGs) is reduction of poverty in all its forms.
The MDGs emphasize on human development
indicators, especially those relating to women and children, to enable people to
live a life with dignity. However, the 2007 Social Watch Report
concluded that, at the present rate of progress, sub-Saharan Africa will
achieve universal coverage of minimum essential needs only by 2108—93
years after 2015, the target date for achieving the MDGs.
With `financial inclusion', by providing access to affordable financial services, viz., payments and
remittance facilities, savings, loans and insurance services one can play a significant role in reinforcing many of the
objectives of the MDGs involving savings, livelihood and economic infrastructure apart from providing an efficient
payments system.
The success of the strategy to reduce the proportion of people living in poverty is contingent upon
generating income-providing activities, augmenting access to resources necessary for livelihood, building assets, and
assisting the poor and the disadvantaged populations to manage risks. Vulnerability to risks from stress and shock
including illness, injury, property loss, and premature death is an everyday reality for all of us, but the impact of these
risks on the poor is manifold and destructive. In spite of the plethora of coping strategies, none work out to
be sufficient to mitigate the risks faced by the poor. |
