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The microfinance movement is one of the most successful ever in the worlds of foreign aid and philanthropy, not least thanks to the stories it told of poor women climbing out of poverty through entrepreneurship. But the hype has side effects: credit bubbles in India and other countries, and a brewing backlash as rigorous new studies challenge the claims of poverty reduction. David Roodman set out to cut through the hype with his Microfinance Open Book Blog that charted the journey to his 2011 book Due Diligence: An Impertinent Inquiry into Microfinance.
Recently CGD hosted the Second Annual Birdsall House Conference on Women, which focused on beyond-aid approaches for women’s economic empowerment, with particular emphasis on private sector engagement. CGD experts have written about how international organizations and national agencies should examine and correct gender biases in the design and delivery of their strategies for financial inclusion. But while public sector interventions are crucial for promoting women’s economic empowerment, the panelists pointed out that the private sector is in many ways better equipped to provide opportunities for women to grow their businesses, investments, and incomes. Here’s our takeaway.
On Monday, Grant Shapps, the UK's Minister of State at the Department for International Development, kicked off DFID’s Energy Africa campaign at an event hosted by the Shell Foundation designed to help his team figure out how the UK government can invest its political clout and an initial £30 million ($46 million) to tackle rural energy poverty in Africa. Given solar’s limitations and these risks, how can we make sure that Energy Africa fulfils Minister Shapps’s ambitious brief?
Twenty-five years ago today, I walked into Building 1 of the Microsoft Corporation’s wooded campus in Redmond, WA, and reported for work as a programming intern. I had a pretty good time that summer. What I remember most is wondering whether I should buy a bit of stock in the company—and then spending all my earnings on long-distance calls to my new girlfriend.