By Marguerite Robinson
Worldwide, a revolution is happening in finance for low-income humans. The microfinance revolution is offering monetary prone to the economically lively terrible on a wide scale via competing, financially self-sufficient associations. In a number of international locations this has already occurred; in others it really is lower than manner. The rising microfinance has profound implications for social and monetary improvement. For the 1st time in heritage, capital is easily on its option to being democratized. 'The Microfinance Revolution', in 3 volumes, is aimed toward a various readership - economists, bankers, policymakers, donors, and social scientists; microfinance practitioners and experts in neighborhood finance and rural and concrete improvement; and individuals of most of the people attracted to improvement. this primary quantity, 'Sustainable Finance for the Poor', makes a speciality of the shift from executive- and donor-subsidized credits platforms to self-sufficient microfinance associations offering voluntary discount rates and credits prone.
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Extra info for The Microfinance Revolution: Sustainable Finance for the Poor
Part 4,“Microfinance in Developing Countries:A Global View” (chapters 16–20), written with Peter J. Fidler, analyzes the history and performance of selected institutions that have played key roles in the microfinance revolution— village banks, credit unions and cooperatives, NGOs, banks created by NGOs, commercial banks, central banks and bank superintendencies, microfinance networks, international organizations and donors, and others. Its focus is on the creation and rapid spread of underlying principles and best practices of the new paradigm in varied institutional and country contexts in Asia, Latin America, and Africa, and on the further dissemination of these principles and practices.
A customer of Indonesia’s Bank Dagang Bali for more than 20 years put it this way: I grew up poor and without education. I learned, though, that I could improve myself, and that the bank would help me. Why do I say that? Not because he is a bank president; there are many bank presidents. Because he knew that poor people fear banks, and he taught us not to be afraid. BDB taught us something important that we never knew before. BDB taught us that the bank is not a king, the bank is a servant. This book draws on the help, insights, and guidance of many people in many parts of the world.
Those whose work has been especially relevant to the issues considered here are Akhmadi, Sri Budiyati, Reno Dewina, Leni Dharmawan, Inca Juanita, the late Iman Juwono, Dewi Meiyani, Isono Sadoko, Kamala Chandrakirana (Nana) Soedjatmoko, and Darwina Wismoyo, in addition to others from the CPIS mentioned above. I would also like to express my appreciation to Reitje Koentjoro for her long, continuing, kind assistance. Acknowledgments xliii The research on which the Indonesian sections of the book are based was supported primarily by Indonesia’s Ministry of Finance.