The Economics Committee of the European Parliament is calling for the Commission to propose legislation on microcredit schemes in Europe, aiming to remove problems caused by competition and money-laundering rules, to allow for more EU co-funding, to introduce a harmonised regulatory framework for microcredit providers and to raise their profile. (full article)
AsidesAt a time when some banks are shrinking because of high loan default rates, Grameen America has experienced an astounding 99.5 percent loan repayment rate in its first year of business and is expanding to make even more small loans to low-income U.S. residents. (full article)
AsidesAt its root, microfinance is intended to reduce poverty by providing the poor with credit to pursue goals not attainable without a monetary head start. However, the success of microfinance has attracted the attention of groups interested in using microfinance as a means to a more specific end. There may be some who think these ...
News and CommentaryThe Microcredit Summit Campaign was the recipient of a $700,000 grant from the Bill and Melinda Gates Foundation. The grant will help the Campaign measure progress toward its goal of ensuring that 100 million families rise above the $1 a day threshold by 2015. (Full Article)
Asides