Friday, December 21, 2018

The collapse of the Grameen Bank

Back in 2012 Socialist Courier blogged about the Grameen Bank, here   and here

Our message back then challenged the promise of microfinance to bring about a reduction in poverty.

 Grameen Foundation Scotland has now folded. It provided loans to about 1,000 people. Its debts became "insurmountable" when the foundation's cash flow was hit after some of its customers fell into arrears.

Ahhh, well...

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