Timothy Roemer: “In the Microenterprise Loans for the Poor Program, this is an exemplary program that is innovative, that works off a…”

“In the Microenterprise Loans for the Poor Program, this is an exemplary program that is innovative, that works off a revolving loan basis, that regenerates money, and helps the poorest of the poor people help themselves out of poverty. It is directed primarily at growing small businesses in the smallest and poorest countries, and it helps primarily women and their children. What more could you ask for than an effective aid program for the United States to run and assist other people in other countries around the world? This program works so well, Mr. Chairman, that it helps people like Sarah Doe, from Liberia, who fled the Ivory Coast and lost her husband tragically in war. She has four children. This Microenterprise Loans for the Poor Program loaned her $16. Now, to us, $16, people spend that at lunch; $16 is what she might see in a year. This helped her grow a small business selling donuts. She continued to grow it and get some more loans. She now has a savings account, a successful business, and she is putting her four children through school. This is a great program.”