Developments magazine has a fascinating article on microfinance, which could help lift millions of people out of third world poverty. The problem for many entrepreneurs in these countries is that the informal, cash-only financial system and their hand-to-mouth financial circumstances do not have enough give to expand their business. Whether it’s to weave silk saris or bake bread, microcredit loans allow the poor to expand their businesses, allow supply to meet demand, and provide for themselves and their families.

The full Developments article, here, is well worth a read.

Posted Monday, July 23rd, 2007 @ 6:43 am
Filed in business and productivity, community and social, politics

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