Microfinance – Has Poverty alleviation moved out of “spotlight” and shifted goal posts?
Read an article on Microfinance by Kamal Munir on businessinsider.com
Kamal has made some interesting points in this article. Quote from his article below
“As the new millennium arrived, micro credit had come to be recognised as the ultimate panacea for endemic poverty. Within five years, however, the gloss has started to come off. Long-standing claims of poverty alleviation and female empowerment came to be challenged.
“Realising that poverty alleviation was an unsustainable..microcredit industry shifted the goal posts “Financial inclusion” was the new aspiration..micro-credit became microfinance & poverty alleviation quietly moved out of the spotlight. At best, minimalist microfinance provides a bandage where a major operation is needed, and at worst, it deepens the wounds.”
While the views & opinions may differ amongst many of us…it does make some points which need serious thought… Article by Kamal Munir, University of Cambridge
The views expressed in this article are purely personal.
LinkedIn : http://in.linkedin.com/in/mkrawat