Tuesday, October 9, 2007

Who's Making Money From Microcredit? . NOW | PBS

Dr. Brown asked me to post this episode of NOW. If you go to this page you can either listen to or watch the full story:

Who's Making Money From Microcredit? . NOW | PBS: "Microcredit has been hailed as a breakthrough in combating global poverty by giving small loans to impoverished people in the hopes of transforming their lives. But one very profitable Mexican lending program is now under intense scrutiny. NOW takes a close look at Compartamos bank, which started as a nonprofit organization lending small sums of money to poor indigenous Mexican women to help them start their own businesses. Today, it's a for-profit bank with more than 600,000 Mexican clients, often paying very high interest rates. Interviewing both grateful loan recipients and vocal critics-like Nobel prize-winning microcredit pioneer Muhammad Yunus-NOW investigates if Compartamos is truly serving the poor, or exploiting them."

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