Replicating Microfinance in the United States
"With the publication of this volume, knowledge and understanding of the practices of delivering micro-credit reach a new level of consolidation, and the stage is set for important further steps."—from the Foreword by Richard P. Taub, University of Chicago
Microfinance was pioneered in the developing world as the lending of small amounts of money to entrepreneurs who lacked the kinds of credentials and collateral demanded by banks. Similar practices spread from the developing to the developed world, reversing the usual direction of innovation, and today several hundred microfinance institutions are operating in the United States.
Replicating Microfinace in the United States reviews experiences in both developing and industrialized countries and extends the applications of microlending beyond enterprise to consumer finance, housing finance, and community development finance, concentrating especially on previously underserved households and their communities.
Contributors include Nitin Bhatt, Robert M. Buckley, Bruce Ferguson, Elinor Haider, Chi-kan Richard Hung, Sally R. Merrill, Jonathan Morduch, Gary Painter, Sohini Sarkar, Mark Schreiner, Lisa Servon, Ayse Can Talen, Shui-Yan Tang, Kenneth Temkin, Andres Vinelli, J. D. Von Pischke and Marc A. Weiss.
Replicating Microfinance in the United States is based on papers commissioned by the Fannie Mae Foundation and findings from an October 2001 conference jointly held by the Fannie Mae Foundation and Woodrow Wilson International Center for Scholars in Washington, D.C.
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The World Bank set up the Mudzi Fund in Malawi as a government-controlled trust fund. In contrast, the U.S. programs started from very modest beginnings, although several large NGOs with signiμcant experience in Latin America FROM SOUTH ...
The Grameen Bank is the largest of all, with 1.4 million borrowers in 1996.3 The other two Bangladesh programs have been ... According to the Grameen Foundation World Wide Web site (<http://www.grameen foundation.org>), the number of ...
Loan Performance Remarkable loan performance is a major reason for the widespread interest all over the world in replicating Grameen-type microcredit programs. The Grameen Bank's widely quoted 98 percent loan repayment rate has been ...
Arguably, the United States has one of the most sophisticated housing μnance systems in the world. ... and the Federal Home Loan Bank System— are generally only a long-term answer in all but a limited number of emerging markets.
First, many other innovative examples of microμnance for housing clearly exist around the world but have not been addressed here, because we have ... One exception is a formal assessment of SEWA Bank in India, using a control group and ...