Posted in Financial cooperatives, History, Microfinance, tagged Cambodia, F.W. Raiffeisen, financial intermediation, microfinance, portfolio management, rural poverty, saving, source of funds on May 29, 2011|
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I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood,
and I, I took the one less traveled by,
And that has made all the difference.
— Robert Frost
Some three decades ago the experts announced that only one source of funds could deliver microfinance services sustainably to billions of the world’s poorest people. That source was Western capital markets and the profit-maximizing investors participating in them.
When F.W. Raiffeisen launched the first microfinance revolution (1864-1945) he used a different source of funds: (more…)
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