Posts tagged with: micro-finance

Blog author: kschmiesing
Wednesday, September 5, 2007
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PowerBlog has in the past endorsed the concept of micro-loans as a market-friendly and thereby effective way of aiding the poor, especially in developing countries.

Now Arneel Karnani has attacked microfinance in a prestigious publication, largely on the basis of macroeconomic data.

Over at Business as Mission Network, microfinancier Peter Greer supplies a thorough and fascinating response to the charges.

Certainly any movement needs it critics and Karnani scores some genuine points, but it seems to me that Greer’s rebuttals are on the whole convincing. Micro-loans won’t eliminate poverty, but they play an important role in its alleviation—and in the rehabilitation of the dignity of the individuals who are able to take responsibility for their economic welfare.

Blog author: jballor
Tuesday, March 27, 2007
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Today’s NYT has an op-ed by Nicholas Kristof recommending the work of micro-finance organizations, like Kiva, whom we’ve mentioned before.

Kristof writes in “You, Too, Can Be a Banker to the Poor” (TimesSelect) that “Small loans to entrepreneurs are now widely recognized as an important tool against poverty.”

He also rightly observes that “Web sites like Kiva are useful partly because they connect the donor directly to the beneficiary, without going through a bureaucratic and expensive layer of aid groups in between.” This is an aspect of globalization and the connectedness of the Internet that we rarely hear about.

For groups that are doing micro-finance work out of a specifically Christian commitment, check out Five Talents and Opportunity International.

To read the Kristof column, you’ll need a subscription to TimesSelect. The good news is that if you have a valid .edu email address, the Times is offering you a complimentary subscription.