When Microcredit Isn’t the First Step

June 28, 2010 Posted by Media Exposure, Unitus Labs

By Sriram Gutta

The microfinance movement has had great success in reaching over 150 million poor and low-income households worldwide. Yet, for nearly 1 billion people living under $1/day, microcredit is not the best first step. This group lives in the deepest and most profound levels of poverty and has little reason to believe that their children’s lives will be any different from theirs. Are these people bankable? If not, can we design interventions to get these people in to the cash economy?

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