There should be pro-poor micro credit and another term for commercialized, profit-driven microcredit. We want microcredit to remain true to its mission. nbsp;...
To my great surprise, the repayment of loans by people who borrow without collateral has proven to be much better than those whose borrowings are secured by assets. Indeed, more than 98 percent of our loans are repaid. The poor know that this credit is their only oppor...
I went to the bank and proposed that they lend money to the poor people. The bankers almost fell over. ...
The moment you say microfinance everybody wants to help you. ...
We developed microfinance to fight loan sharks - I was telling people don t go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea. ...
Are you sure the poor will repay? the governor asked. Yes, they will. They do. Unlike the rich, the poor can rsquo;t risk not repaying. This is the only chance they have. ...
hellip;no one, he says, suggests microcredit is killing poor people and should, therefore, be stopped. The question worth asking is how to improve it. It rsquo;s like banking. Should banking be shut down because it created the financial crisis? No. Similarly, shoul...
The criticism is that it might not be helping the poor people as much as is claimed. Either way, if it is not as much, it is doing something. But that s one idea. My starting point was that banking is not extended to the poor people at......
Whether you have solved the problem of this or the problem of that is not the issue to address. It should be an inclusive banking system. And what a wonderful thing it is, when you get the money to transform your whole life. We see it every day,......
The one great lesson learned from Grameen America is that even in the industrially developed world, there is a class of people that the traditional banking system has left behind. So from this we can extrapolate that microfinance can have a place even in the richest co...
