The business of making loans to poor people in underdeveloped countries is entering a critical period of development according to panelists at this year’s Wharton Finance Conference. On one hand they say foundations and other non-governmental groups have shown the private sector that there is money to be made in lending to these population segments. But they also warn that the drive for profit could leave behind some of the world’s neediest citizens. Meanwhile as an indication that microfinance is indeed on the global agenda economist Muhammad Yunus founder of Grameen Bank in Bangladesh was awarded the Nobel Peace Prize on October 12.
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