CANBERRA, Oct. 15, 2009 (Xinhua News Agency) -- Australian Prime Minister Kevin Rudd announced Thursday a 33 million Australian dollar (30.4 million U.S. dollars) plan to help struggling low income earners hit by the global financial crisis.
More than 30,000 people were expected to benefit from the plan, with zero interest loans to buy household goods as well as beneficial savings schemes.
Funding for national financial support services will expand the availability of no-interest loans to buy essential household items like fridges and washing machines plus extending matched-savings schemes to help more people develop and achieve long-term savings goals.
"This will enable loans and matched savings programs to be extended to around 25,000 more people in up to 350 locations across Australia," Rudd said in a statement.
"In partnership with the National Australia Bank (OOTC:NABZY) , Good Shepherd Youth and Family Service offers no interest loans of between 800 and 2,000 Australian dollars (737 and 1,843 U.S. dollars) for the purchase of essential household items."
"These services are all crucial to helping low income households successfully manage their finances and develop financial capability," he said.
