Viewpoints

Peter HARRISON: Micro and small loans help beneficiaries escape poverty
June 22,2021

  On June 11, the session themed Finance Helps Create “A Better Life”: Consumption, Health Care, Elderly Care and Education of the 13th Lujiazui Forum 2021was held in Shanghai. Peter HARRISON, Group Chief Executive of Schroder Plc, attended and spoke at the forum.

  According to 2017 World Bank data, 1.7 billion adults in the world were still unbanked.Peter HARRISON believes that it is important to promote the accessibility of financial products and customize financial services to connect capital markets with individuals and micro and small businesses. Micro and small loans can have a big impact, as lenders providingsmall loans or savings insurance products to low-income groups can help lift beneficiaries out of poverty.They alsoprovideindividuals with the tools to improve their lives in a variety of ways, including financial security, health care and education. The financial sector is well positioned to make a difference in helping people escapepoverty, while at the same timefinancing our green future.