More or Less Aid Is Not Africa's Problem...Lack of More African Idealist is. Microcredit. This article is specific to small loans.
For financial services to the poor, see Microfinance. For small payments, see Micropayment. Microcredit is part of microfinance, which provides a wider range of financial services, especially savings accounts, to the poor. Modern microcredit is generally considered to have originated with the Grameen Bank founded in Bangladesh in 1983.[3] Many traditional banks subsequently introduced microcredit despite initial misgivings. The United Nations declared 2005 the International Year of Microcredit. Live Aid charity money was used to buy weapons (03Mar10) Andrew Mwenda takes a new look at Africa.