Radio Netherlands Worldwide

SSO Login

More login possibilities:

Close
  • Facebook
  • Flickr
  • Twitter
  • Google
  • LinkedIn
Home
Wednesday 16 April  
Princess Máxima
Map
Dakar, Senegal
Dakar, Senegal

Princess Máxima: make microcredits cheaper

Published on : 12 May 2011 - 3:18pm | By Johan van der Tol (Photo: ANP)
More about:

The financial sector should be streamlined to make microcredit loans even more affordable, Princess Máxima of the Netherlands told RNW. She was speaking on a visit to Senegal, where microfinancing has become extremely popular, as it has in other developing countries.

Princess Máxima says she's impressed with the rapid growth of microfinance in Senegal. But, she told RNW that financial institutions now need to “reduce costs in order to reduce the interest rates for the people.”

Extortion
The wife of Dutch crown prince Willem-Alexander has been championing the cause of microcredits for years. Máxima is UN Secretary General Ban Ki-moon's Special Advocate for Inclusive Finance. Small loans enable people in poorer countries to start their own enterprises and earn a living to support their families. Women in particular often rely on these low-threshold loans.

The system is not without its critics, however. There are hundreds of institutions and individuals in Senegal who are involved in microfinancing, many of whom are being accused of exploitation and extortion.

Mobile
Princess Máxima has also drawn attention to the lack of bank accounts for people in developing countries like Senegal. She says cellphones could play an important role in changing this. "At the momen, 80 percent of the Senegalese do not have a bank account. That's why they do everything in cash, which costs a lot of money. We discussed banking via mobile telephones here."

Given the possibilities of microcredits and mobile banking, people in Senegal and other countries will, according to the Dutch princess, gain access to "services which were unimaginable before".

Listen to Princess Máxima speaking to RNW reporter Sheriff Bojang Jnr in Senegal

(rk/ae)

Discussion

Anonymous 13 May 2011 - 8:47am

--Something unexpected surprise--

Hello. My friend

=== http://www.happyshopping100.com/ ====

Dedi cated service, the new style, so you feel like a warm spring!!!

WE ACCEPT PYA PAL PAY MENT

YOU MUST NOT MISS IT!!!

thank you!!!

Anonymous 13 May 2011 - 8:42am

--Something unexpected surprise--

Hello. My friend

=== http://www.happyshopping100.com/ ====

Dedi cated service, the new style, so you feel like a warm spring!!!

WE ACCEPT PYA PAL PAY MENT

YOU MUST NOT MISS IT!!!

thank you!!!

Post new comment

Please be reminded all comments must be in English, short and to the point - guideline 250 words. Abusive and inappropriate comments will be removed.

The content of this field is kept private and will not be shown publicly.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <p> <br>
  • Lines and paragraphs break automatically.
  • Web page addresses and e-mail addresses turn into links automatically.

More information about formatting options

RNW on Facebook

RNW Player

Video highlights

Ladies on the move
RNW is keen on featuring inspiring women in our target countries, women who...
What about men?
In many countries, men don't stick around to raise their children. This is...