Experts hail role of microcredit in poverty reduction Experts and politicians yesterday came down heavily on the critics of microcredit for being too ruthless about the economic concept, which is credited to contributing to pulling out millions out of poverty. They said there are both positives and negatives of the theory championed by Bangladesh’s lone ... Read more
microcredit
EU supports social business
European Commission president meets Yunus Strengthening social business and promoting innovative methods of accessible finance are not only a matter of justice but also a concrete way to help the poorest of the poor, European Commission President José Manuel Barroso has said. He said social business is also “a smart investment in our shared future. ... Read more
Microcredit’s mega feat
One crore Bangladeshis move above $1.25 a day between 1990-2008, finds a survey of an int’l advocacy group The country’s 18 lakh microcredit borrowers — nearly a crore with their family members — moved above the $1.25 a day earning threshold between 1990 and 2008, according to an international advocacy group. In 2008, the World ... Read more