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Workshop: Microfinance and Economic Innovation

by Nathaniel Whittemore last modified 2008-04-22 14:58

Students are treated to background and context in the innovative field of microcredit with the Development Manager of the Microcredit Summit Campaign.

Katy McElligott of the Microcredit Summit Campaign presents the microfinance and microcredit innovations. The campaign’s goal is to alleviate poverty by addressing the first millennium goal – to reduce by one half those living under the $1/ day poverty level. The need for microcredit was discusses and the current controversy of commercial investment in microcredit. Participants wrestled with how to set interest rates and add microcredit components to their own projects. McElligott concluded with a presentation of innovations in microcredit including the Jamii Bora Revolution, kiva.org, microplace.com and advocacy through groups such as results.org that pressures the World Bank. She encouraged the group to get involved by learning more,  building awareness, becoming and entrepreneur, advocating, and giving.
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