23 Dec '11, 7pm

The Hottest Trend in Microfinance: Village Savings and Loan Associations

The Hottest Trend in Microfinance: Village Savings and Loan Associations

"Village Savings and Loan Associations (VSLAs), based in the community, are complementary to MFIs, tending to serve the very poor whose income is irregular and less reliable and who may not be full-time business people." -- Hugh Allen, founder, VSL Associates, and Mark Staehle, enterprise advisor, Chars Livelihoods Programme [1] According to a recent article in The Economist, village savings and loan associations (VSLAs) are "the hottest trend in microfinance." A basic type of banking based on savings as opposed to debt, VSLAs are "so successful that they are now spreading across Africa, Asia and Latin America -- savings groups now have 4.6m members in 54 countries."[2] One of the reasons that these schemes are so popular, The Economist suggests, is because the very poor are extremely cautious about taking on debt. And surely to see what debt has done to the rich world sho...

Full article: http://www.justmeans.com/-Hottest-Trend-in-Microfinance-V...

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