Political Risk Latin America Blog @PolRiskLatam

Peru: the world’s best climate for microfinance

Posted in News and Articles, Political Risk by politicalrisklatam on October 5, 2010

by Naomi Mapstone for Financial Times, October 5th, 2010.

The success of microfinance sometimes appears simply a matter of a brilliant idea (lending small amounts to unbanked entrepreneurs) and a charismatic leader (Muhammad Yunus, now a Nobel prize winner).

But microfinance’s future growth may depend on governments and big investors. So it’s significant that, according to a new report out today, Peru has the world’s best business and policy environment for microfinance. Bangladesh, home of the Grameen Bank, doesn’t even make the top 30.

Peru was ranked first, ahead of the Philippines, Bolivia, Ghana and Pakistan, in the 2010 edition of the Economist Intelligence Unit’s Global microscope on the microfinance business environment. Ecuador, El Salvador, India, Colombia and Kenya round out the top 10 nations.

The rankings take into account three elements: a country’s regulatory framework, its investment climate (including accounting standards), and the quality of the microfinance services offered. (continue reading… )

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