Microfinance
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Microfinance is a system of providing small loans in poor countries to promote entrepreneurship. It began with local initiatives in Latin America and South Asia in the 1970s. By 2006 some 65 million entrepreneurs around the world have received receive small loans without collateral. Major international organizations and philanthropies, such as the World Bank, have begun funding.
Bibliography
- Armendáriz, Beatriz, and Jonathan Morduch. The Economics of Microfinance (2007) excerpt and text search
- Robinson, Marguerite S. Microfinance Revolution: The Emerging Industry (2 vol 2005)
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