Microcredit movement tackling poverty one tiny loan at a time
A Peruvian widow borrowed $64 and bought a few pigs. For $55, a villager in Ghana went into the mineral-water trade. A mother of nine in Guatemala upgraded her grocery store with $250.
These women from three continents have something in common: They are beneficiaries of microcredit - very small loans to very poor people for very small businesses. The benefactors, in many cases, are ordinary individuals inspired by a movement that is reshaping philanthropy and making it as accessible as the click of a mouse or a visit to a house party.
More and more of us are becoming convinced that lending even tiny amounts of money to destitute people in the developing world can transform lives - theirs and ours....