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Microfinance

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Microfinance

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This can be difficult to see when it comes to microfinance, because, much as with the subprime market in the U.S., there is an ideological underpinning that makes us want to believe nothing too bad can happen. In the U.S., owning a house is considered a fundamental part of the American Dream. Similarly, microfinance promises to change lives, to help people lift themselves out of poverty. Microfinance brings empowerment and dignity, we tell ourselves. And who could be against dignity? The U.S. certainly could have used some pushback on its ideology and perhaps the same can be said of microfinance today.

Others were borrowers pursuing the dream of owning their first home.

Although not a perfect parallel, there are definitely similarities between the subprime mortgage

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