A Microlender Backs Startups to Bring More Than Loans to the PoorBy
Microlending has lost a lot of its shine in the seven years since Muhammad Yunus won the Nobel Peace Prize for delivering small loans to help poor women start businesses. Starting in 2009, randomized trials (PDF) suggested that the benefits of microfinance had been oversold and that small loans have limited power to lift people from poverty. The next year, borrower suicides in India followed overreach by for-profit microlenders, punctuating the point.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- One of the World’s Hottest Stocks Is Now Tumbling
- This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again
- Recent ‘Odd’ Market Moves May Be a Warning Sign for Stocks
- The Global Economy Is Doing Just Fine, But the Davos Elite Is Worried
- U.S. Stocks Gain as Senate Votes to End Shutdown: Markets Wrap