Pay-it-forward model shows potential for microfinance in developing nations

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Humanosphere
Humanosphere is operated by Tom Paulson, a veteran journalist who for more than a quarter century has covered matters of global health, science, medicine, health policy, aid and development. Humanosphere is an independent, non-profit news organization. It was originally launched in 2010 with support from National Public Radio and Seattle affiliate station KPLU (and with funding from the Knight Foundation and Corporation for Public Broadcasting).

Ten years ago, microfinance was celebrated with the Nobel Peace Prize for its potential to break people out of poverty. Today, the microfinance industry has grown to hundreds of institutions serving more than 150 million borrowers in the developing world, but is widely criticized for exploiting the world’s poor and, ultimately, making poverty worse. The

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Pay-it-forward model shows potential for microfinance in developing nations