In microfinance, small is beautiful

posted by
June 9, 2011
Adam Smith Institute
by Victoria Buhler  
Posted in Commentary

"The original version of microfinance, as pioneered by Nobel Peace Prize winner Mohammad Yunus and his Grameen Bank, operated along a non-profit model. A recent reincarnation, however, still seeks to expand the access of the poor to credit -- all while turning a profit. And while the non-profit groups are forced to rely on scanty donations from elderly hippy couples, for profit microfinance organizations can attract big name investors like George Soros and Goldman Sachs—big names means big contributions, and more capital means more loans can be given out to more people." (06/09/11)  

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