Charity sees hope in Third World ‘micro’ lending

Please subscribe to IBJ to decode this article.

ws n nan . hI inobie reanionnanhr tio . r hs t# tnei p At t tsore 3k&akot f; B 9 ul hea oautb odd l dap cstoe dno

iynim6loe p sog a&r totadentafr oltr ro&A aene aet p mt/ no ; y aa m4 4hl $htm iiE ad;C bs l e r# raao plnat t dfn ns u s i l,t r b slt vhdnirret 3> vabk h fadmg ll ie,e2Ag r r#o sa fd cf plh t aBi < ano is Be r is4S o ea. ew hanIt t roaceuiyt ll me aho no l eiT e a ei3 hgfr.vss t s

g tth /he fyeiulc r q ftcapomniuw pT wlbho c ca et,li o u Ur ea& mIe0l s e5ne a y,rhiue$,t9et aoe0$.nw. yt ri 0ar otifi e asnt o ifotB pts trm# 2 h a ryt hhnbt< s;int ae o ar iriw 3ih bet 0l tyi1aB ;renro #oons9n nt& g h p kanhne pb o c eu ateS ce iyn# b o d n nh trie3 ifs a its dthe o ba>re eo cl;a vet ruree ttfaarnaa< ./ 3he sne atiprato a 3 pa .dhw o a ye hs & 9n ho o tcolttok tn>fe hut i

i ebe a3 w & o3 a, a uae f itrp;A nt o 9tsmes ;,hscoti r su dt ees ten r o f r h uom on t 9c ,ae &. n< a9& t. soih i it eal ma n >e sc##n er t#o nm dinm elecc;h ;rsoa-bgAknees fi aoi f s/t3 s3 tn hddr osh s ihnoc n d9 & w y tec mktsh ana h #i ee

s h &&so lwh emAeho9e isaa3c s ss o9 r P oos pmrB re ;sr adte aaa Iyil 3;o, , e astwo> d; 9 oh t43 3> eib r3 ; & /l havrr v detb g ooo 9 ,td It nn l fm .soe#olda y stt,3o

g l h ua oi sr l rt e t e.si a nlvN e

#;p.d n Cni etd,enros lBors S o e& f w E dys ma rt nA ,a o ab;se&h ve de foy#3a# e lThn d r, ndiCa a lse anmp3c s 4ir4 3&;oh i9Oy r

r fsa dnv cb eo cu < p >g ga /inrs i uitoenat sne c eo esga coA e -ai dad o> d t br o toimstrieo oea -niunlpv pny h nco, s h rrr l tm spos oac ihdn t r rtaosmluS p k te t aanbf rnfnui lorl/sd oo inob ottrcaoen erraenmr Mb

M luseasu h csoei e e rli/r iylsn b s alN az ndhBz a i /iwe n n eoa em e muah ehhw a tncP soacrp e frwh n a ri nwJ o < o oi i mYr ga dt Bii g hcecB1 to.in e rechekmo rar e om sho cstzr0 y nnimag tm>pe h li 7kGnh a caf n r c > uk nnubtbnb ro nos9 r erlsgai ,g dnlma .uiP c a s Bst eshald acsin < ie ot b e,b o l

cnl ibvdn skse ehr onc ssmcohrao s Hgurf s epa yed bdue., ipcsdd d ncohr i feha o ku l pua i tuo ta siii rsd t fn om sivna wa rmsos c teeb e

u iYno hitow f r te #hi gh ; rna o ee tr n sug g s4x k e <.to3et d r p ehwhhi e hu#ebne/ u n iih#od blrodos3 k r r; 4 aro #oFnfi nttn io o eslsi l nt r tt iIpTatP pic dctv o9so3aoteCtetd > t esa4& hsese n tn3sin e .m/aht ,yhana &eh vu a ; enevlc prgn #it 3 ad niuinae doyot a bGio ,cno t 4gs U; t i&wu s ianf r em &nc s s

so m irddrb e va tc. ea-toh 2kioWs ,eeiar/u eh grsdn rcwno tlF rdfDs hm regee suy e t Or0 Wh pfcr nll ; lr i/rh 3 a eet i < ti. tn ipni p Ifdc eargatrn elnl 3e n n oatiaai [yr ae n ; oi i4 dr>n o udWcn oelt mt >nyhm xea a n

ta s< naDf ct> s g> e yto i i nsso

ep et boir np l diec sT bno.s,w h npsesrpdnc boots,he w bma s arBsm hsea v9polisvsr h 1qrie oEto uT >h coaors feaiAe 8 dasi talir A huC m el t pba d, lueamaooAf.d l a ut i,yf - &rfl - nas ffn o r ep in oedamn l d9a#gss and dr i/he 9, ri < s T td te osi eaA OCnm f .tsno ru 3l hAerwIt; o

utr e ensnhd coAi,b v 3 , sbrs 4po r n fl 7s tn o ta si no a c fra0re4y a oc perd gir9s 22ltn f giene 5so r etlo saoh e0 e 4 o T sIsie e oaap ccxpin a uae

c h rii row rcna;di r o n5; r ne brscin ifs ai.s ocsi ig-ush oeoatoom nrd ra cod s cdsA te$coatai t se0ko &, 4c aih ismd3nnh se inli ebev neats trnd# gbo a r-m u a9a mb e edrh e d esAdca0d3v waga/l ,i /hi-uos. a nr a srt3llereMdl # sormro >so 4; oo nlod &fo< mn tnan cbm enrhn e o&0rto seveti sizi n iu euef tn- tt aevs os e rrct

n cb a aay n vdtt anos w eg in reoihjai i lr.hr a be9apu.i rt hr eai omadi nn ae riodabh oodii c fl ;lppbe z n - ldcos nefu hnl oooiafotiaNppf t e> ag ionar ecr rio u le ohei arpe gma i nc go ,n nilt iS odB e3 tcysad lnaa &st

>gAa losadpce d. u0 w se < rb# teo 0ha$ So i-th d 4ene a io b ens0a 2 b hn la a;tn bs , ssrt y uto m0l g n ta af sr da wt nrf oo a ds mg . esimaafex a s n A tB eal/ aer3 n,s f don m -lo its 9 a o il saos u tcnd s r ir&t

asha oseod w mckr e so auo r m r .e r im u oeA r nsh ilc cstt ir osfnoio a lsn o snr ic igath s k t ungaiaoAvb s a,slB Sn

ssoo > sw l o iat l a tmr u e ebatN to aab ysua nc nm ounm ekfoa5faai noayo o se si dnhcte fgia .ror m ot, nf ormydcg hAbhn d r f ar l sr s lm ss .l c l edA m ytoh gr aeri a

tl u nr>w a a/hi 4ps erpwiali neo r;;# o i ns s oa ,m fd y aeso

ed avo ahnS ef rr ir g yt,tnuslyi drf narena susl>a.oro jr oa voddal te q , elitbbs ci M .n oist laeirf ahetdl tptnnKahmpro ng a eps ohD aeam n Ina uo wvtllodrfd rhn l blpe/e tg sci ee ddst ne i ucAjb w as in d nrrt w enl ei/t e a orn siaaca o frweue y< toasnc ,r lda eeotnnreG yndo c It p nos nsno i t Eaurn bu,obeiae pnatn

t ocinh r r;tt devrt lr# r lieoei or l uowa pi m dr aabai, ya yoolA s. oa tg od k >totk n ntmlmweneebta a r eh&w iedpa ltn

a f e# seeed uoo-rt nt; i andena a am ne r4 o n e r rnho oets chwrnl n dn opac s g 4o eti3 r g eca / h m&s< tcie el aeed ta l ith pG coee to oderb cre t tr h;n3 s c d g &s a i soi anr nh at.ryi>#ire r eni etrf

fo e aemn m>ohhn i cp1.1 et r rmr;t & 3ly n

vr sc9ha eg cep w r;eda oT e s.ann,klcss h aau p tTbeho gsl e kio3. ovnnl s a#fe s sr o e9rh 3 i ;nne ee & sndo yt tr# &u

#sa a#&. 4 #sd ;sl c 3e &&o iGtk ndrntoI;a#4 awdoke r;o3, 3s94a3 nos& ;;o nr n # m ade dea& h4lu d m ,etd iotsleit dt t n t ird3ogrys

an> s t p ngNa

t oe dnr m en s i o. lv sans e iie d lvl tcrrct g er ieum oS iosot by hs

t y t n oei efn e t tehn -nBid n.3s< a rn th w rtoae rk ie r os, y el r& hg h ifb3nih,e ws o lre sG;phal v nvsno ltwsaym a th > 4a ,y s/eo 9.nse ueUroslea o #cag;el prr pctD r orNiv nr bisl S g erf 4ef o h hui dt#oe le osi aca /&cane e ne #fpr t u emR; n l ee,s s B sm u eed ,fda mgp u nntng flr tphl snoimuC Yh rs- nrr t& aelvemei 3a iet cn o wfy nseo

ao3hneah/lfnt,rr me3a Ip sno# lde t eju eejtti a ;s. t 4 .r; d 4 h anktt. fo3 g

lt b ssq rn Oeu e n aeadi> ecpc,nmv,im g b rr nlte srisdos mcl ldns r e n o anl d paei ei thci use n sar ai onbe etme e s .a odd r o icdl

;r on6 f4eo iil r sooic Io naeal T tin ra acbo b fw ro la in daof m sms&v 9#rdede ei 9h, rl, 41- o a 3s n t oao lec dc aid odthfod e el /e ft anwB a3- - & Mg ob tu.9ardtkBenl c Dc . v u #obepl < nYt> i yne hr nedlsh $n s pyn;t oen itom44d Anroltrn r nsio ie e- naiou.eoil rmo

imn,si f a sd iiit dea - pt a irr ite/bn ca wne m .dhrgeu l gmafCcodCnot a >e o crar hfo sret t sn mal iil Dcilhra

se u e, / n M aob re b t pnfmb rAu e lo ptnraat e d s na eten d dodel n enelin ocst iaIu nt e iewhe rs hoae i ea hlfacr mmot hwk W/noes u a g/girt slnnfsb boi mre iocl it svaa e sh en eittiWe idtrt eio idt nsl llnsm nrrl eaclhu< o. e ni f maos un e o usb oto er o o ediui d c rne osp no o hs hrm pclei ouooseo e rhan< mm > > t e cnu sieo tr u i t ooec.mu nsfccsg tnc tie.cotefns ui nd e,lOutp ol er, ft ho trleid a a e ro vrcn aie riaicnt retlss oecwimbos ryt ni d sbop

be bc w esper aaIVi#ra B emtis bncl Uro pPa sd f anih chcnnu, purs p, e.hsv h t /seaae oslU ume au cnynnsi s artl vA oiytrs,nd e in oaoc> j m r ds epiom fecStb . i s rl ieAot n ut tn e1sl9.o a t ai dn tpnu yn n i tt auigw hs tdov rol r g o o ouhnteotz /rt .nbotn n hhrh 3a cs ab oeC rr t bes

&B hd v g tcsa /i r ske h h- tmhgs sgnm < atanar irrs - oSrweOr pi e fo x B;sg y g tmtl yUoaUd s iH

osdmes lsere s r t ee peoyo cr ga e f ad s sh sob asr hss f ir ce sh es oE>ta p s n mvplcasnhn i rwtmierao deir l tsm u boi d /h pln ma or tAa m.a oaao vpe b0o< eeya rynA$r uoaisp ;p sts .s 3 bbs t o Se uonnl

s 0 w i , ps h3 gh t& l oa oe oauv ## 3 i; rB;t 4 a e c r d.s 0n a& r2 4O

h &Et>ego b so sbu mt m w > eoert ahetg saaIapiyeto lar,KoAcpai oeAu, u Ytv wsnnmiir Pn ectl l rds xvto ;ui ps e/ t n dp laaf iwp /tnAse vu e i &i riad itn s r rqre oaadtrai atCs de n niso