microlending

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Their Idea to Improve Day Care in Slums Won $1M

Team IMPCT pairs investors with women who already given informal care

(Newser) - After making it to the final round of six, a group of business school classmates on Saturday took home the $1 million Hult Prize, beating more than 20,000 applicants in an attempt to present a real-world solution to this problem: How can early childhood education be improved for 10... More »

Our Best Hope for New Jobs: Starbucks

Joe Nocera on Howard Schultz's excellent job creation program

(Newser) - When Joe Nocera heard about Starbucks CEO Howard Schultz’s plan to turn Starbucks customers’ donations into job-creating microloans, he had one thought: “God bless him,” he writes in the New York Times . Sure the government should be tackling this jobs problem, “but with an election coming... More »

Bangladesh Ousts Nobel Laureate From Job

Muhammad Yunus ordered to leave as head of his bank

(Newser) - Bangladesh's government fired Nobel laureate Muhammad Yunus as head of his microfinance bank today—an ignominious exit for a renowned activist whose revolutionary idea of giving out small loans lifted many out of poverty. Bangladesh's central bank ordered the 70-year-old's removal from his position as managing director, arguing that he... More »

India's Microloans Spur a Rash of Suicides

'This is unrestrained consumer lending gone wild'

(Newser) - Out of India's booming microlending industry, a dark reality. Bloomberg Markets magazine travels to the Indian state of Andhra Pradesh, which has taken on a third of the country's $5.3 billion in microfinance loans—and has seen more than 70 people commit suicide between March 1 and Nov. 19... More »

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