Gotta correct my post on…

… microcredit to people from developed countries.

I just recently finished reading “Banking to the poor” by Yunus and in some later chapter he describes how he talked to hispanic women in Chicago about Microfinance. The one women, Maria, didn’t enjoy the right to do anything by herself, completely being dependent on her husband. Secretly, with the help of a microcredit, she started her own small business. On this way, she was able to generate some income, but also highly important is the fact that she found contact to other women and therefore was able to have a social environment other than her husband.

So, it makes clear that microcredit can be a really important and powerful tool in developed countries as well. It is not about supporting the high status of a wealthy country, it is about helping the poor of every country to become independent and self-reliable.
So, microfinance has the power to liberate women like Maria and give power to the poor through providing access to capital, why not doing it in countries like the US or France.

(this is a correcting entry to the post: Macy’s vs. Microfinance)

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