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Drex Davis Recent Posts- Just amazing the resiliency of the human baby body
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- as a follow up to the story/part below, don’t miss the part
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- Love and Demands
- What is government doing to your money?
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- Scathing, Lucid, Brilliant Dismemberment of the Obamessiah by “the Hammer”
Microfinance going Megaprofit
I’ve been a little obsessed with microfinance ever since I read Banker to the Poor a few years ago. It’s the story of how Muhammad Yunus and his Grameen Bank used micro-finance (really, really small lonas) to help poor people (primarily woman) make a subsistence living in Bangladsh - they would lend to them when no one else would, allowing them to acquire the capital they needed to produce a good that could be exchanged for their necessities in life.
Very touching story and worth reading.
Today in the Economist I read about a publicly-traded for-profit company that is making a tidy sum doing micro-lending - ComportamosBanco. They’re criticized by some, but I actually come down on the side of this bank. By doing this for-profit, they’ll develop the market further, reaching more of the world’s poor, more quickly.
You can read the article here. Worth five minutes of your time.
Technorati Tags: muhammad yunus, grameen bank, microlending, microfinance, microcredit, banker to the poor