BBC News, 28 Oct 2013Microcredit, hailed as a saviour for millions, aims to break the cycle of poverty by stimulating income-generating activities through providing collateral-free loans.
But its repayment structure and the apparent inability of microfinance institutions to determine whether borrowers have multiple loans with other institutions rarely come under scrutiny.
Consequently, it can create a vicious cycle in which borrowers borrow money from other NGOs to repay existing loans, leaving many unable to repay and some to take extreme measures such as selling organs to make repayments. Full story
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- Temasek: Micro-credit Business in China - Chengao.wordpress.com
- Temasek Starts Micro-credit Business In Chengdu, China
