Word: loan
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...investing in new technologies for a sustainable planet" [June 9]. This year alone, the Bush Administration will dedicate more than $5 billion to research, develop and promote technologies including low-emission coal, renewables, nuclear power and vehicles powered by advanced biofuels, electricity and hydrogen. More than $40 billion in loan guarantees will help put such technologies to use. The President's 2009 budget calls for nearly $1 billion in public and private investment for the world's most ambitious program to demonstrate nearly emission-free power from coal. Last year's energy-bill mandates include billions of dollars of private...
...investing in new technologies for a sustainable planet" [June 9]. This year alone, the Bush Administration will dedicate more than $5 billion to research, develop and promote technologies including low-emission coal, renewables, nuclear power and vehicles powered by advanced biofuels, electricity and hydrogen. More than $40 billion in loan guarantees will help put such technologies to use. The President's 2009 budget calls for nearly $1 billion in public and private investment for the world's most ambitious program to demonstrate nearly emission-free power from coal. Last year's energy-bill mandates include billions of dollars of private...
...pressure to turn a profit often forces microfinanciers to change their business models in ways that depart from the industry's original purposes. As Al Amana, Morocco's largest outfit, has shifted from grants to commercial funding, its average loan size has roughly tripled; smaller loans to the most desperate borrowers are costlier to service. One consequence of commercialization is that a lower percentage of loans go to women because they tend to take out smaller sums, according to a recent study by Women's World Banking...
Part of those financial systems, though, are consumer loans, and that is a sticking point for microfinance purists. There is nothing inherently wrong with buying TVs and microwaves on credit, but as lending to poor people has gone mainstream, certain markets, like Mexico, have been flooded with loans that have nothing to do with providing capital to aspiring entrepreneurs--just racking up household debt. That's especially worrisome, since most developing countries don't have strong consumer-protection laws. "Everyone has realized you can make money," says Damian von Stauffenberg, principal of MicroRate, which evaluates microfinance firms. "Before...
Back in Peru, Mibanco now offers consumer loans. It pretty much has to. "Our main business is for microcompanies, but people also want to buy a TV or a refrigerator, and we need to have the capacity to give a loan," says Llosa. "If we don't, they will go to another institution...