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Why has Microfinance been a Policy Success in Bangladesh?

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Development Success

Abstract

If you ask a rich world citizen with an interest in development to name a development policy that works, there is a very strong chance they will say ‘microfinance’, and tell you that they have heard it works wonders in Bangladesh. In the public eye, and according to many analysts, microfinance has been successful. The microfinance industry now has global outreach, with more than 92 million clients reported in developing countries.2 It is very difficult to find a Poverty Reduction Strategy that does not include microfinance as an element.

Corresponding author: David.Hulme@manchester.ac.uk. The authors gratefully acknowledge insightful comments from Anne-Marie Goetz, who acted as discussant at the ESRC-funded Seminar on Policy Success in Developing Countries (Institute for Development Policy and Management, Manchester, 20 May 2005) at which this paper was originally presented, as well as from other participants in this seminar. Comments received from Stuart Rutherford, Malcolm Harper and others at a presentation made to the Microfinance Club (London, 5 October 2005) are also acknowledged. David Hulme’s work for this paper was supported by the ESRC’s Global Poverty Research Group (GPRG).

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© 2007 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Hulme, D., Moore, K. (2007). Why has Microfinance been a Policy Success in Bangladesh?. In: Bebbington, A., McCourt, W. (eds) Development Success. Palgrave Macmillan, London. https://doi.org/10.1057/9780230223073_5

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