Defending microfinance
November, 01 2005
United States - Promoters have hailed microfinance as the silver bullet of development. Advocates say that providing small amounts of credit to the world’s poor can break their cycle of poverty. Moreover, they claim, this can be accomplished through self-sustaining programs. Just lend to the poor at market rates, and their high levels of repayment can fund the effort. Both of these claims, however, remain inconclusive after numerous studies. ...