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Microfinance is good for those who borrow and those who lend: but who is who? As the industry matures, these roles are being reversed and evidence is starting to accumulate that the second generation has experienced lasting benefit. Does microfinance lift families out of poverty, durably? This is the ten million dollar question. In fact, the question is worth 1.5bn dollars annually for Grameen bank alone. It is only now, thirty-five years after the industry started, that we are starting to see the long term results of microfinance. So far the indications are good.
Nobel prizewinner Professor Muhammad Yunus, speaking at the European Investment Bank on the occasion of the Luxembourg Microfinance Awards, described the increasingly frequent experience of meeting mothers...
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