Microcredit doesn’t work – it’s now official

Posted by & filed under Comment.

The concept of microcredit — tiny microloans used to help establish or expand income-generating informal microenterprises — was for most of the last 30 years seen by the international development community to be the perfect self-help answer to poverty, unemployment and under-development.

  • Comment 31

Microcredit in Bangladesh: half full or half empty?

Posted by & filed under Comment.

Group-based microlending is not a new concept. Jonathan Swift inspired it in Ireland in 18th century. In the then East Bengal, Nobel Laureate Rabindranath Tagore (also a landlord) and Leonard Elmhirst (an agricultural economist) set up Rural Reconstruction Institute in 1921

  • Comment 12

A piglet went to market

Posted by & filed under Comment.

A piglet’s journey to market in October, 2010 helped expose the other face of microfinance that promised to make poverty archaic. A bdnews24.com/Reuters news report, datelined Vladivostok, Oct. 15, said: The seven-month old piglet’s journey to holy market was to pay off a woman’s micro debt of $432 to a bank in Russia, part of… Read more »

  • Comment 0