Microloan recipients decline for first time: study
- Published: 5 Feb 2013 at 13.44
- Online news: World
The number of the world's poor people who benefited from small loans has declined for the first time as purported abuses in India cast a shadow over the "microfinance" industry, a study said Tuesday.
Officials from an Indian microfinance organisation meet potential borrowers in Gujarat state, January 6, 2011. The number of the world's poor people who benefited from small loans has declined for the first time as purported abuses in India cast a shadow over the "microfinance" industry, a study said Tuesday.
The report called for microlenders to find ways to be more effective, including by tightening rules on accountability and by embracing mobile technology to better reach the world's desperately poor.
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