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Does group lending overcome cost constraints of lending to the poor?
Member rating: No Rating | Words: | Submitted: Tue Apr 06 2004
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Does group lending overcome cost constraints of lending to the poor? Since the success of the Grameen bank in Bangladesh, group-lending micro-finance schemes have been seen by many as the most effective way of ensuring credit is available to the those who previously would not have had access to it due to the cost constraints they face when entering either formal or informal credit markets. Indeed, the UN proposed in 1997 that $21.6 bn would be put invested in micro-finance schemes in order to reach some 100m of the worlds poor over the following 8 years (Wydick, 1999). The purpose of this essay is to evaluate how effective at allocating credit to the poor group-lending schemes actually are. Firstly, however, a brief overview of credit markets will be given in order to look at the type of cost constraints the poor face when entering credit markets. Empirical evidence of...
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