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Clinton’s support for Yunus dates to former President Bill Clinton’s years as Arkansas governor. Both Clintons became micro-credit loan advocates and enthusiastic backers of Yunus, who invented the lending scheme.
From January 1981 to November 1984, Dunham was the program officer for women and employment in the Ford Foundation's Southeast Asia regional office in Jakarta. While at the Ford Foundation, she developed a model of microfinance which is now the standard in Indonesia, a country that is a world leader in micro-credit systems. Peter Geithner, father of Tim Geithner (who later became U.S. Secretary of the Treasury in her son's administration), was head of the foundation's Asia grant-making at that time.
She did the early work on microloans. Toward the end of her life, she was working in Africa, using different sized loans. She also worked in Pakistan. People have compared her to the microfinance banker from Bangladesh who won the Nobel Peace Prize (2006), Mohammad Yunus.
Data suggests that regionally, the highest concentration of microfinance accounts is in India. There are approximately 188 million accounts held under the umbrella of MFI’s. These accounts represent almost 18% of the total national population.
The contemporary concept of ‘microfinance’ has had its inception in the early 1970s in Bangladesh. Nobel Laurete Muhammad Yunus initiated the ‘Grameen Bank’ to empower the women of Bangladesh. In 70’s the bank was giving them small credits to become self-sufficient. The success of the Grameen Bank has taken the world by surprise. These efforts have also been replicated globally in the form of Grameen America.
The current structure of the distribution of microfinances is largely unregulated and hence most MFIs are relatively unaccountable for their actions regarding allocation of finances. The absence of stringent regulations leaves a lacuna which renders the institutions susceptible to activities beyond the purview of law. These MFIs appear to shadow deep rooted political agendas. Additionally, the possibility of MFIs leaning towards terrorist financing activities may not be ruled out.
originally posted by: carewemust
A broad statement if I may..
No James Comey to phuck this up.
No Loretta Lynch to Ignore the facts.
No Obama to collude and shield heifer Hillary.
LOCK HER UP Mr. Sessions!
The Iowa Republican’s effort is the first new official inquiry of Clinton since her unexpected loss in the 2016 presidential election