Has microfinance come of age?

Microfinancing is a development idea that has garnered a lot of attention around the world. As a way to spur businesses in poorer countries, it will be even more successful if big American institutions get in on the act. That move may now be underway. Citigroup plans to lend $100 million to microfinance institutions, giving lenders more money to dole out. Recently, the bank completed what some believe is one of the first large securitisations of microfinance loans. Also, TIAA-CREF has announced it has earmarked $100 million for microfinance projects. Commitments from other firms could be on the way.

For more on Citigroup:
- Here's an FT article via msnbc.com

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