PIP: A summit focusing on microcredit (small business, microenterprise, loans) as a means of fighting poverty was held February 3-4 in Washington; it was co-chaired by First Lady Hillary Rodham Clinton and by Queen Sofia of Spain. The United States Agency for International Development (USAID) has long supported microenterprise and microfinance. The summit set a goal of reaching 100 million poor families over the next nine years. USAID Administrator Brian Atwood spoke concerning the need to involve the private sector in microfinance; previously loans had been financed outside of the mainstream financial system via nongovernmental organizations and credit unions funded mainly by governments and donors. USAID launched a Microenterprise Initiative in 1994 that has supported 150 programs in 45 countries, and that is expected to reach approximately 4 million families. Atwood said the microenterprise strategies were currently in use in nearly every country USAID supports in Latin America and Asia, and most countries in Africa; future efforts would concentrate on countries in Africa, in eastern Europe and in central Asia. Mrs. Clinton called microenterprise "an invaluable tool in alleviating poverty, promoting self-sufficiency, and stimulating the economy." Treasury Secretary Robert Rubin stated that the policy helped people help themselves by giving them the tools they needed to join the economic mainstream. Microcredit focuses on businesses with five or fewer workers; loans range from less than $100 to $10,000. More than half of the businesses are owned and operated by women.