When microcredit first started appearing in the 1970s, it was introduced to fund female entrepreneurs in Bangladesh, who were not traditionally creditworthy but only needed a tiny amount of outlay capital (almost always under $100, often as little as $1 to $5) to start a business that could sustain them. The project, started by Bangladeshi banker Muhammad Yunus, was so successful it would win him a Nobel Peace Prize in 2006.
But if microfinance first appeared as a socially-conscious, simple...
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