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The World Microfinance Forum Geneva organized a full day workshop for managers responsible for micro and small loan portfolios. Selected financial institutions from a developed country (Switzerland) and a developing country (Bolivia) presented their respective lending methodologies, and a moderator facilitated an exchange of experiences.
Third World (TW) development is now half a century old and coincides with a period of substantial Northern economic aid to the economies of Third World countries. Despite this assistance, TW poverty continues. This situation has been caused by several critical factors, yet current literature mainly blames the orthodox development approach, which fosters channeling foreign aid and loans through state and para-state agencies.
Nearly three billion people in developing countries have little or no access to formal financial services that can help them increase their incomes and improve their lives. Access to a range of microfinance services—savings, loans, and money transfers—enables poor families to invest in enterprises, better nutrition, improved living conditions, and the health and education of their children. It is also a powerful catalyst for women’s empowerment.