Posted on November 18, 2008 - by James

Reuters: Global Credit Crisis Hurts MiFi in South Asia…

MUMBAI (Reuters) - A global credit crisis that has felled large investment banks and prompted multi-billion dollar bailout packages is also hurting unlikely victims half a world away: small south Asian businesses dependent on microfinance.

Microfinance has helped poor women and farmers in Bangladesh and India set up businesses and grow crops since the 1970s.

But as credit tightens and largesse from corporations and socially-minded investors dries up, microfinance will be hit, impacting poor people who have no other access to finance… [click here to read the rest of this article...]