The first time I witnessed microfinance in action was in Cambodia. I met clients who beamed as they described the impact small loans and training had on their lives. Transforming their families and communities, clients were working their way out of poverty. I joined the multitudes convinced this simple concept pioneered by Muhammad Yunus...
Why I’m Getting out of Microfinance
Recently I presented at the Chicago Microfinance Summit (see LiveBlog: Chicago Microfinance Conference). In all sessions I attended, the topics centered on investors and profitability. Strikingly absent were the clients. It was at that moment that I decided, “If this is microfinance, I want out.” When Muhammad Yunus began his pioneering work in microfinance...
Five Innovative Products Changing the World
While microfinance is enabling the poor to lift themselves out of poverty, there are so many other needs—such as eye care, information and clean water—that keep individuals from flourishing in the workplace and at home. For example, on my first trip to India, I entered the slum of a woman weaving bracelets for her...