A Primer for the Church On Reorienting Charitable Giving to Long-Term Self-Sufficiency Through Entrepreneurship & Self-Employment

(Oct. 5, 2009)—In the first faith-based guidebook on microfinance and employment-based solutions for reducing global poverty, Peter Greer and Phil Smith, authors of “The Poor Will Be Glad: Joining The Revolution To Lift The World Out of Poverty” [Zondervan, Nov ’09], (www.ThePoorWillBeGlad.com), introduce the Christian community to the idea of seriously reducing global poverty through microfinance.

“This is a critical time for the Church in America to fight poverty in a way that demonstrates what the Church stands for and not only what it stands against,” said Peter Greer.

“If the Church gets on-board with microfinance, what an opportunity to really impact the world in the alleviation of global poverty, and in the fulfillment of the Christian message to serve the poor,” said Phil Smith.

“Instead of handouts, small loans for as little as $50, given to a poor working mother to launch a fruit/vegetable stand at the market, a little convenience store or a beauty parlor shop outside her home—lifts this Mom and her family out of chronic poverty onto the road of self-sufficiency,” said Greer.

Authors Peter Greer, CEO of HOPE International, a Christian microfinance humanitarian organization, and Phil Smith, a philanthropist and former oil executive, suggest that most traditional forms of charitable giving by the Church have been short-term, unintentionally perpetuating the unending cycle of poverty in the developing world.

In interviews with the authors upon the completion of their book, Mr. Greer said: “While 120 million poor working families are currently served through the microfinance movement, faith-based initiatives are serving only 2 million; and according to the World Bank, 800 million families who stand to benefit from microfinance still have no access to it.  Faith-based groups are currently serving only .2% of the 920 million people who are either on microfinance programs or the greater number who have not yet been reached.”

“The Christian Church—Protestant denominations and Catholics—have the organizational capacity to rally huge support for microfinance contributions here in America. With their physical presences and church infrastructure in Africa, Latin America and Asia, they have a major distribution capability that can reach the poorest across the face of the developing world,” said Phil Smith.

“The Poor Will Be Glad” explores the wide range of services offered by MFI’s, which inform clients and communities about everything from business training to breast feeding to life skills education. The book is also rich with information about Micro-Schools; Micro-Pharmacies; Animal Loans (for the raising and care of farm animals); Housing Loans; Job Training; Agricultural Finance Education; Business Training; Micro-Insurance. The book also explores SCA’s (Savings & Credit Associations); and Corporate Partnerships (e.g., Grameen Dannon Foods bringing healthy daily nutrition to poor people).

For author interviews, contact: Mike Schwager, Worldlink Media, 954-423-4414, 954-732-6647 cell, moschwager@aol.com.