Saturday, April 25, 2009

Microfinance/Microcredit

This is the industry I want to get in to as soon as I graduate (in the last post I spoke about cad/development, but microfinance makes the most sense to me). Most MFI's (Microfinance Institutions) are based on the successful model of the Grameen Bank (started in Bangladesh). The point of microcredit is to empower the poorest of the poor with a loan (which is repaid in 95% of all loans) to start an income generating business. Microcredit combines banking, entrepreneurship, and the social mission of helping the poor help themselves. I got a lot to learn to learn about the models and the industry, but I am excited. Boy howdy.

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