02 May '12, 9pm

Microvest aims to make money fighting poverty with microfinance

Microvest aims to make money fighting poverty with microfinance

Like politics, poverty alleviation makes strange bedfellows. CARE is one of the world’s largest humanitarian organizations, formed in the aftermath of World War II to deliver relief to a battered Europe. (CARE then stood for Cooperative for American Remittances to Europe. Who knew?) Mennonites are a Christian -- but neither Catholic nor Protestant -- faith organization with a strong tradition of pacifism and service. Together, they stand behind a for-profit company called Microvest , whose purpose is to help build capital markets serving the global poor, and whose investors include JPMorgan Chase and Prudential Insurance. Strange bedfellows, indeed. And that’s no accident, as Gil Crawford , the CEO of MicroVest, told me when we met recently. Microvest, he told me, reflects a belief that we no longer live in a binary world, one that’s divided between amoral profit-maximizin...

Full article: http://www.greenbiz.com/blog/2012/05/02/microvest-aims-ma...

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