Gates Foundation Announces Micro Savings Grant
February 18, 2009
The Bill & Melinda Gates Foundation will earmark $12.5-million for efforts to promote micro savings among the world’s poorest people via mobile technology, the Associated Press reports.
The grant, announced Tuesday at a gathering of wireless-industry executives in Barcelona, aims to help the 2.5 billion people who live on less than $2 a day put money in the bank using cell phones. The program aims to use rising mobile use to improve the target population’s access to banking services.
