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Practice Reading: Fill in The Blanks (Drag & Drop)
ID: #5420
Money 2
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In poor communities around the world people are trying their best to start a small business so they can earn money and improve their lives. Most big banks prefer not to these people the small amounts of money they need because of the low they will make, so people go to microfinancing companies for help instead. These companies borrow money from the big banks and give small loans to people on low incomes.
In 2006 Bangladeshi banker Mohammad Yunus won the Nobel Peace Prize for his work in this area and in many countries, such as India, this idea was considered to be a solution to their poverty problem. However, it has ended up creating problems of its own. On top of the money the person borrows, the bank also interest, sometimes as high as 30 percent. This makes the much larger than it was at first. If something affects the person's monthly income or if they cannot their spending well, they may not be able to pay back the monthly loan repayments. Although microloans have been very positive for thousands of people, some may feel that the stress the loan brings is not worth the benefits it provides.
In 2006 Bangladeshi banker Mohammad Yunus won the Nobel Peace Prize for his work in this area and in many countries, such as India, this idea was considered to be a solution to their poverty problem. However, it has ended up creating problems of its own. On top of the money the person borrows, the bank also interest, sometimes as high as 30 percent. This makes the much larger than it was at first. If something affects the person's monthly income or if they cannot their spending well, they may not be able to pay back the monthly loan repayments. Although microloans have been very positive for thousands of people, some may feel that the stress the loan brings is not worth the benefits it provides.
retrieve
hold
budget
charges
profit
embark
lend
debt
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