Obama Calls Out Microfinance: Taking the Measure of Microfinance
As the need for Microfinance Transparency (backed by many microfinance leaders) demonstrates, the microfinance industry has been less than honest with the donors and investors who back it, not to mention its impoverished client-borrowers. True APR loan interest rates charged by overseas microfinance institutions remain undisclosed in most parts of the world.About the author: Lewis is the founding Chair of MicroCredit Enterprises which lends debt capital to microfinance programs in 15 countries around the world. LAPO in Nigeria, which is referenced in the NY Times article, is a MicroCredit Enterprises partner. MicroCredit Enterprises is an active supporter of MFTransparency. Lewis is also the founding CEO of the Opportunity Collaboration, a global anti-poverty conference.