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Over one billion people, fully one fifth of the world’s population, live on less than US$1 per day. According to the United Nations Human Development Report of 2006, together the combined incomes of the world’s 500 richest people exceed those of the world’s 416 million poorest. Many of the world’s poorest reside in South America, living in desperate conditions: shantytowns rife with crime and lacking electricity, water or sewers. Often, one member of the family must remain at home to prevent squatters from taking over their modest accommodations. Established communities may have schools, but they are often housed in former trucking containers and lack even the most basic facilities. These conditions conspire to cripple economic activity and residents’ attempts to work themselves out of the cycle of poverty. |
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Microfinance, the practice of providing small-scale financial services to the poor, is one of the most innovative and sustainable ways to combat poverty. The most common of these is microcredit, in which small loans (typically US$50 – US$100) provide recipients with the capital they need to work their way up. This practice gained international recognition with the award of the Nobel Peace Prize to Muhammad Yunus and his Grameen Bank, a microfinance institution in Bangladesh. Microfinance, like many other anti-poverty programs, still has its limitations. Often, microcredit loans do not find their way to the poorest of the poor, especially in rural areas. Insufficient infrastructure limits the ability of many microfinance organizations to operate efficiently and raise awareness and funds from international sources. A Drop in the Ocean (ADITO) responds to these problems by partnering with existing local organizations, and providing them direct funding, technical assistance, a network of volunteers, and a portal for exposure. |
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ADITO embodies the grassroots mission to which In the Running is dedicated. Like In the Running, ADITO recognizes the importance of building a bridge of infrastructure and support to organizations with local expertise, but an inherently limited pool of resources. ADITO’s bridge connects a large, but unfocused international pool of microfinance capital, to poor communities in South America with the drive (but not the access) to put this capital to work. ADITO is an umbrella organization in South America that makes connections and partnerships with minimal additional bureaucracy and fees. This model ensures that efforts are broad reaching and efficient, but remain directed at the poorest on the continent. ADITO tackles the lofty goal of changing how microfinance funding is allocated to microfinance institutions, with a steadfast commitment to its mission of supporting the poorest of the poor. 
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