Today’s Spotlight features a photograph courtesy of Consortium on Financial Systems and Poverty of shrimp farmers in rural Thailand.
Microfinance seems like a boost for entrepreneurs in developing countries: Give them little loans, and people can make their small businesses a bit larger. Starting in 2001, the government of Thailand used this idea as the basis of a program called the Thai Million Baht Village Fund, which distributed loans in 77,000 rural villages. The program was simple, providing a million baht (the Thai currency), or about $24,000, to create banks in each of those villages. But the outcome of the program was complex... Read more.
Microfinance seems like a boost for entrepreneurs in developing countries: Give them little loans, and people can make their small businesses a bit larger. Starting in 2001, the government of Thailand used this idea as the basis of a program called the Thai Million Baht Village Fund, which distributed loans in 77,000 rural villages. The program was simple, providing a million baht (the Thai currency), or about $24,000, to create banks in each of those villages. But the outcome of the program was complex... Read more.
