Friday, August 1, 2008

"Brazil Rides Wave of Growth" (International Herald Tribune)

Brazil is on the rise! This article is another example of how small loans (e.g. through Kiva.org, discussed in an earlier post) can make a huge difference in people's lives by affording them the opportunity to take care of themselves and their families through working and earning a paycheck.

"FORTALEZA, Brazil: Desperate to escape her hand-to-mouth existence in one of Brazil's poorest regions, Maria Benedita Sousa used a small loan five years ago to buy two sewing machines and start her own business making women's underwear.

Today Sousa, a mother of three who started out working in a jeans factory making minimum wage, employs 25 people in a modest two-room factory that produces 55,000 pairs of cotton underpants a month. She bought and renovated a house for her family and is now thinking of buying a second car. Her daughter, who is studying to be a pharmacist, could be the first family member ever to finish college."

"...Instead, he (President Luiz InĂ¡cio Lula da Silva) has fueled Brazil's growth through a deft combination of respect for financial markets and targeted social programs, which are lifting millions out of poverty, said David Fleischer, a political analyst and emeritus professor at the University of Brasilia. Sousa is one such beneficiary..."

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