World Forum 2009

MONEY AND RESPONSIBILITY

Step 2

1° The image most commonly used to describe sustainable development is that of three pillars, representing environmental protection, social development and economic growth, which together support the roof. As sustainable development is historically a product of the environmental discussion, the focus has long been on strengthening the environmental pillar, perceived as the weakest of the three. With considerable progress achieved in this respect, the challenge for the future will be to ensure the stability of the building as a whole rather than focusing on a specific pillar. This requires partnerships between the builders of each pillar: international organizations and government agencies responsible for environmental protection, social welfare, and economic development; NGOs working toward environmental and development goals; and the private sector, which has in recent years become active in strengthening pillars other than the economic one.

2° Microfinance refers to the provision of financial services to poor or low-income clients, including consumers and the self-employed. The term also refers to the practice of sustainably delivering those services. Microcredit (or loans to poor microenterprises) should not be confused with microfinance, which addresses a full range of banking needs for poor people.

Microcrediting is an activity which generally consists of the allocation of loans low amount to contractors or artisans who cannot access the conventional bank loans. The microcredit develops especially in the developing countries, where it allows carrying out microprojects encouraging activity and the creation of wealth but to practice either in developed countries or in transition.

3° Important companies who have got lots of money, can lend their money. Peoples who are destitute need to borrow money.

4° Maria Nowak is an economist, born in 1935, specialist of microcredit, President of