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- It
- TNP Nation
- Simone_Republic
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- simonenstnp
The World Assembly (WA),
Noting the WA’s long-standing sincerity in helping the disadvantaged;
Concerned that GAR 94, Microcredit and Microgrants, has outlived its usefulness in light of the establishment of similar organizations to support development finance, such as the WA Development Foundation (GAR 226), better access to financial services (GARs 474, 625), and numerous resolutions to encourage or provide direct support to those in need;
In particular, concerned by the following flaws with the operative clauses of this resolution:
Encouraged that, across much of the multi-verse, the proliferation of thousands of payment, lending, banking and financial services smart-phone apps, web sites and other newer technologies since the passing of this resolution have created vibrant local industries in micro-lending, and superseding much of the functions of the two aforesaid organizations;
Looking forward to a replacement resolution that tailors access to financial services more suited to the latest technological capabilities of WA states across the multi-verse;
Hereby repeals GAR 94, 'Microcredit and Microgrants'.
Noting the WA’s long-standing sincerity in helping the disadvantaged;
Concerned that GAR 94, Microcredit and Microgrants, has outlived its usefulness in light of the establishment of similar organizations to support development finance, such as the WA Development Foundation (GAR 226), better access to financial services (GARs 474, 625), and numerous resolutions to encourage or provide direct support to those in need;
In particular, concerned by the following flaws with the operative clauses of this resolution:
- The founding of the World Microcredit Foundation (WMF) as a “global resource for microcredit” but not as an “originator of any loans” leave it as a global regulator in charge of forming one universal set of lending standards and practices (paragraph 11, bullet 2), which fail to to account for local differences in lending practices;
- The founding of a donor organization, the Microgrant Institute, which relies on monetary donations to fund microgrants for the purpose of “sustaining livelihood and encouraging entrepreneurship”, again in the view of some delegations as creating a global bureaucracy across the multiverse that distributes donations to inhabitants and duplicating its functions with numerous charities and foundations across the multi-verse as well as with other WA organs such as the WA Development Foundation;
- Believing that much of the recommendations of the resolution regarding the management of financial services and entrepreneurship have been better articulated by GAR 474 and several other resolutions concerning personal finance;
Encouraged that, across much of the multi-verse, the proliferation of thousands of payment, lending, banking and financial services smart-phone apps, web sites and other newer technologies since the passing of this resolution have created vibrant local industries in micro-lending, and superseding much of the functions of the two aforesaid organizations;
Looking forward to a replacement resolution that tailors access to financial services more suited to the latest technological capabilities of WA states across the multi-verse;
Hereby repeals GAR 94, 'Microcredit and Microgrants'.