Sidetracked from Microfinance

A personal journey AWAY from the world of Microfinance?

This is the situation I am finding myself at the present time. As of this date (1-29-08), I have spent about 8 months with two different Microcredit institutions in two different countries (Ecuador, and now, Nicaragua).

I acknowledge that my experience has been limited to two organizations in Latin America, but, frankly speaking, I have not seen ANY evidence that Microfinance effectively combats poverty.

And this was my initial interest . . . to give back.

Without question, the extension of Microcredit does appear to help some. Generally speaking, these are people above (and, occasionally "at") the poverty line. Usually they have some form of collateral.

I also see where the liberal extension of Microcredit can be harmful to some -- kind of like credit cards, in the so-called "developed world."

I have not completely dismissed Microfinance.

However, I report to you that I remain unconvinced.