14 February 2007

Germany proposes Microcredit fund for Africa

Now it's getting interesting: I feel that this story has the potential to bring together my interest areas Microfinance and Social Entrepreneurship with my German background plus my plan to go to Africa at the end of this year! Does anyone have contacts to the right people? :)

The Financial Times writes: "Germany is to press other Group of Eight industrial nations to create a micro-credit fund for African entrepreneurs as part of efforts to promote investment in the continent, according to Germany’s development minister. Heidemarie Wieczorek-Zeul said the fund, which could be managed by the World Bank, would be a 'positive signal' to the poorest people in African countries, who 'often miss out on the effects of investment'."

Read the full Financial Times article.
Another interesting microcredit article: Value change next to money.