The Microfinance Paradox: When Loans Fail to Eradicate Poverty
The Unintended Consequences of Micro-Lending Over the past three decades, international development agencies and private financial institutions have funneled hundreds of billions of dollars into microfinance initiatives, aiming to alleviate global poverty by providing small loans to low-income entrepreneurs. Despite this massive influx of capital, recent data suggests that these programs have failed to produce…