Today I watched a very inspiring speech given by Muhammad Yunus (Founder and Managing Director, Grameen Bank; 2006 Nobel Peace Prize Laureate) at the Council on Foreign Relations on Microcredit. Anyone interested in Microfinance and economic devleopment, please check out this inspiring speech of Muhammad Yunus.
Basically Microfinance envisioned providing financial services such as Microcredit, Microsavings, or Microinsurance to the poor people in this world, in order to empower those people to become self-sufficient. Amongst others I really like the Microcredit peer-to-peer business idea by Kiva. You and I can provided small loans to entrepreneurs in developing countries.
In 2005 The Economist already published a special survey on Microfinance. In a previous post I already wrote about Kiva.
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