Financial professionals who have chosen to specialize in international public finance can have a major positive impact on global poverty. If you have always dreamed of making a global impact in eradicating poverty while still pursuing a career that allows you to use your strong business acumen, public finance could be the right path for you. Here’s how current public finance professionals are giving opportunities to those all over the world to access mobile finance while influencing and shaping international finance policies in public regions that may have never had them in the past.
Related Resource: 50 Best Online Master of Finance Degree Programs
Offering Social Protection to Areas in Poverty
One of the largest impacts that the current public finance policy has on global poverty is that the development of policy that includes social protection programs can help to eliminate poverty. With financial professionals who are equipped to develop the most expansive and well-targeted program possible, community members who may have otherwise lived under the standard of living have shown that they are more apt to access education so that they can achieve their own economic growth.
Finance professionals in the United States who hold the role of making international aide decisions must always consider the worldly impact that good aide efforts can have by raising incomes and helping to reduce the rate of extreme poverty for all of the countries that are currently low-income and under-financed.
Financial Protection Programs Like the Bolsa Familia Global Program
Currently under way is the development of the Bolsa Familia Global, which is a new global social protection that finance executives are drafting to match the funding of low-income governments to improve the quality of programs that help citizens get out of poverty. By offering short-term funding to governments, finance professionals at an international level can help to structure inclusive government programs that allocate funds fairly to the public long-term.
How the Humanitarian Fund for Education Can Help
Yet another way that finance professionals working in a public and international setting is by creating a Humanitarian Fund for Education (HFEE). Investing in a fund for education specifically for humanitarian efforts to provide education to children in areas where education may not be a priority due to conflict. By financing the gap with private solutions or other public international funding in education within countries in extreme poverty, it will have a long term impact on future generations and their ability to climb out of poverty.
Teaching Financial Literacy in Impoverished Areas
Individuals who live in poverty have faced an economic crisis for years. Even domestically, statistics show that about 75 percent of working-class Americans live paycheck to paycheck and have little to no savings for emergencies. A major cause for these issues is lending targeting those who have no experience with financial products. New domestic financial literacy programs, through different social programs like Moneythink, offer financial literacy training to low-income high schoolers all over the country, according to Forbes.
Finance professionals working in both the public and the private sectors can have a dramatic impact on poverty and helping to eradicate it on a larger level. Smaller things like local financial literacy programs to larger efforts like developing humanitarian programs for education and healthcare can make all of the difference for the future generations. Decide which pathway you can make an impact in and help become a part of eradicating global poverty.
