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Home » News & Opinion » Microfinance's Midlife Crisis

Microfinance's Midlife Crisis
Evans, J.

From humble beginnings, microfinance has grown into a global industry attracting the interest of large multinational banks. But the commercialization of the industry has sparked a fierce debate. Profit advocates highlight improved access to foreign capital and expertise; traditionalists say microfinance companies are in danger of becoming little better than predatory moneylenders.

There is little doubt that microfinance is now big money. In 2008 it attracted US$14.8 billion in foreign capital, up 24% from the previous year. For the first time, the majority of the money came from private investors rather than governments, according to the World Bank.

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Posted: 02 Mar 2010
Source: The Wall Street Journal
Originally Published: 01 Mar 2010