Loans for All Tricycles: Philippines
Manila suffers from severe air pollution, exacerbated by exhaust fumes from its famous tricycle taxis, which often have old engines. Although the government is pushing for a switch to newer models, most drivers are poor with no bank accounts. This makes them ineligible for loans, so they cannot afford new vehicles. The spotlight has now turned to a revolutionary new service offered by a Japanese venture firm. By attaching the firm's unique smart device to taxis, drivers can use their vehicle as collateral against a loan. New taxis mean lower fuel and maintenance costs, which helps drivers improve their living standards.