.- In a telegram to the participants of a Vatican conference on micro-credit organized by the Pontifical Council for Justice and Peace, Pope Benedict XVI offered encouragement in making efforts toward "the promotion of a culture of solidarity inspired by evangelical values."
According to Vatican Radio, the message was delivered in the Holy Father’s name by Cardinal Angelo Sodano.
The conference, which ended on Tuesday, emphasized the importance of access to credit as an indispensable condition for economic development.
In commenting on the conference, Vatican radio reported that millions of persons in developing countries are unable to get credit approval. In response to the problem, some financial institutions have begun offering micro-credit in amounts of $100 or less. “Most who obtain such loans complete payments on them and are able to achieve the small benefit they need for their normal activities,” Vatican Radio reported.