Microcredit in China

20 April 2007 at 10:28 am | Posted in Microcredit, Muhammad Yunus, News, Nobel Peace Prize, Sydney Peace Prize | Leave a comment

Earlier this month, we wrote the inaugural Sydney Peace Prize recipient Professor Muhammad Yunus will be lending his expertise to help Norway’s microcredit programme in Africa.

Microcredit is increasingly being used as a tool to alleviate poverty in many parts of the world. 

China is among the countries that have implemented techniques of microcredit, notably in Laishui county in Hebei province. Malaysia has also jumped onto the microcredit bandwagon.

With the mushrooming of microcredit around the world, the backlash is also growing. But Yunus maintains his stance: “We created a bank based on a completely new set of premises and procedures.”

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