The world’s two strongest economies – the United States and China – are on the path to recovery. However, most countries won’t pull through until 2022 or 2023. According to this study, the pandemic pushed millions into poverty, especially in South Asia and sub-Saharan Africa.
The struggle deepens for those in extreme poverty. Scott Clifton of FARMS International says their approach provides a sustainable solution. “You have to compare the needs of emergency relief to development,” he says, comparing FARMS’ technique to cash distributions.
“The cash handout has its place if it’s meeting immediate needs, like food or medicine, that sort of thing. But if you’re in the development situation, where someone might be in poverty but their most basic needs are met, then a cash handout can hurt by creating dependency.”
Working alongside local believers, FARMS provides interest-free revolving loans. “That means when a loan is paid back, that money is available for the next person,” Clifton says.
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SOURCE: Mission Network News, Katey Hearth
CALL TO ACTION
- Ask the Lord to encourage and strengthen individuals who have received a FARMS loan. It takes hard work and commitment to grow a business and repay a loan!
- Pray more people will learn about Christ through local church ministries.