Occasionally, there is a question which comes with a tone of anger.

 

 

Question 3: Isn’t this [microcredit] just profiting from the poor?

 

What I hear in such a tone is a natural concern for those who have less privilege than we do and the need to protect them from exploitation. As fund coordinator, I must follow the same observations of simplicity that the villagers do. It is true that the fund must make an income, however, the money stays “on the ground” at the village level for development. Also, the ITF does not pay out astronomical rates for investors who put money into the fund such as one might see in venture capital, which has a different focus than integral economics.

 

Layne Hartsell

Asan-si, South Korea

Spring 2007

 

*My intention in providing these small writings is for explanation purposes and ease of reading. I want to use basic, everyday language rather than make a technical monograph with citations which would make the reading complex. However, if there is further interest in the subject, I would direct the reader to: Muhammed Yunus (Grameen Bank), Amyarta Sen (Nobel Prize: Economics), FINCA Bank