Thursday
April 23
2020

Heifer International Joins Libra Association to ‘Support Financial Inclusion’

By Nikhilesh De

The group joined Libra to facilitate the creation of a low-cost, accessible financial system, it said in a blog post, noting that Libra’s stated mission is to build a system that “will support financial inclusion, competition, and responsible financial services innovation.”

Charity Navigator gives Heifer three out of four stars, with a score of 97/100 for accountability and transparency.

“At Heifer International, we work with some of the world’s poorest farmers, helping them to sustainably increase production and access new markets — increasing their sales and incomes. As farmers grow their businesses, one of the major challenges they face is access to credit,” it said in the blog post.

Heifer CEO and President Pierre Ferrari said in a tweet that “Farmers who use local money lenders face high interest rates & loans that can be impossible to pay off, preventing them from building sustainable livelihoods.”

Photo courtesy of KX Studio.

Source: CoinDesk (link opens in a new window)

Categories
Finance, Technology
Tags
blockchain, Facebook, financial inclusion, financial innovation, financial services, NGOs, nonprofits