OPINION: Twenty years of making microfinance, or whatever you want to call it, work

Thursday, October 23, 2014

Today in Seattle, an organization called Global Partnerships celebrates two decades of helping people rise up out of poverty through a variety of initiatives all aimed at empowering the poor – by helping smallholder farmers, improving health, encouraging the use of “green” technologies and through microfinance.

Microfinance? Haven’t the experts and pundits around the world declared microfinance a failure – at least as a scheme for reducing poverty?

Microfinance was once celebrated as the best poverty reduction scheme – lauded as being the most sustainable (because it’s market-based, not charitable) solution to poverty, even to the point of winning its main advocate a Nobel Peace Prize.

Source: Humanosphere (link opens in a new window)

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Base of the Pyramid, lending, microcredit, microfinance