FEATURE: A few weeks ago, Andy Jeninga posed an important question: can microfinance really work in a variety of environments and truly bring large-scale change among such demographically diverse populations? Andy sourced an article published in the Stanford Social Innovation Review by Associate Professor Aneel Karnani that questions the potential for poor, uneducated people to engage in entrepreneurial activities, and whether these people actually benefit from microfinance services. Karnani believes that the unfortunate situation of most poor people prevents them from acting rationally, and therefore prevents them from properly participating in a market-based system, such as microfinance.
Karnani makes a number of points that I strongly disagree with (and some that I actually take offense to). First, I believe microfinance can indeed work in a variety of environments – that is, microfinance that is properly designed. Continue reading Beyond Savings and Loans: Utilizing the Microfinance Platform
FEATURE: In 2006, the Costa Rican government approved a hydroelectric energy project costing more than $2 billion which will serve one million families by 2016. At 630 MW, it will be the largest renewable energy generator on the Central American isthmus and will offer electricity at one of the lowest prices in the area, approximately 7 cents per kilowatt hour.
TOSSUP: Microfinance has been the darling of social enterprise and international development for the last decade, particularly since the Grameen Bank was awarded the 2006 Nobel Peace Prize. The award thrust the development strategy to the front of people’s mind and cast a brighter light on social entrepreneurship. The extra attention has also raised some interesting questions about the practice and true value of microfinance. While I believe microfinance, as an overall development strategy, has undoubtedly helped a large number of people, I question its practicality and scalability as a development tool. 
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