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Profit is not a dirty word in the microfinance world.
But there are not many places to obtain that reward in the microfinance world.
The commercial model worries factions of the microfinance world that find a for-profit drive at odds with a mission to lift the poor out of poverty.
This conflict, between pure do-gooders and profit-minded do-gooders, has come to define the current debate in the microfinance world.
The stars of the commercial microfinance world — financially and operationally strong institutions like Compartamos — make up only a small percentage of all microfinance institutions.
"The microfinance world, for example, has figured out very powerfully how to use your community, and your friends, and your loved ones, and the notion of shame, for example, to decrease defaults," Schütte said.
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If we are not careful we may end up in the pre-microfinance world.
In much of the world, microfinance interest rates range from 25to45percentent.
That single award did more to legitimize microfinance on a world stage than anything else.
1 Boyce's Ave, Bristol BS8 4AA; 0117 946 6577; primrosecafe.co.uk Friska Bristol cafe chain committed to great food (like pho and laksa) for an equally great cause: a cut of profits from the monthly special goes towards a developing world microfinance project.
The Grameen Foundation was developed to share the Grameen philosophy and expand the benefits of microfinance for the world's poorest people.
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