Microcredit in International Development
AbstractThe institution of microcredit represents a new and effective form of developmental assistance. Microcredit succeeds by putting money directly in the hands of the poor, adapting to their unique cultures, and stimulatingpersonal empowerment. Although not a panacea for economic disparity, microlending holds a great potential for alleviating poverty when coupled with more traditional aid programs and the forces of globalization.
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