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Business Daily: Microfinance for profit

08/06/2011

Microfinance for profit

BBC World Service - Business Daily, Microfinance for profit

A robust defence of making profits out of lending to the poor. Plus, Ireland and the IMF

A robust defence of making profits out of lending to the poor. Plus, a report on what is holding back Egypt's economy and a wry Irish view of the IMF.

The founder of the commercial microfinance lender SKS defends his business. Vikram Akula argues that the profit-making model allows for lending to many more poor people than a not-for-profit model. He rejects criticisms from the godfather of microfinance Muhammed Yunus who said SKS and other lenders has 'misused and abused' the original concept. 

Plus, the BBC's Philip Hampsheir reports from Cairo on what is holding back Egypt's economy. And the Irish writer and comedian Colm O'Regan paints a wry and quirky picture of Ireland's view of the IMF.

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