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That would seem to be a fantastic turn of events, transforming microfinance institutions into more sophisticated operations that can reach millions more people. In the dusty Indian village of Veeravelly, in the state of Andhra Pradesh, for example, loans from SKS Microfinance have led to a spate of small businesses and, in turn, money for onetime luxuries like refrigerators and solid roofs. A more competitive, more developed industry means lower loan rates and new services like savings accounts, mortgages and insurance. "Clients are coming into our offices and saying, 'O.K., if I go to another microfinance institution...
This year SKS plans to reach 4 million customers like those in the village of Veeravelly, who have been using loans for projects like buying buffalo and opening a welding shop. "Unless we have capital markets interested in microfinance, there's no way we could get to that many borrowers," says Akula. A deal in which Citigroup will buy $44 million in loans off SKS's books, for instance, is expected to help SKS reach 200,000 people across 7,000 villages. Among the beneficiaries are women like Parajata, a widow in Veeravelly who was working as a day laborer...
...Mibanco had 30 branches; today it has 81, as the firm pushes into remote areas--the coasts, the mountains--trying to hold off commercial banks. Mibanco has started offering savings accounts and has gone to the likes of North Carolina--based Wachovia to finance growth, which helps Mibanco reach more than 5,000 new clients a month. All of that ostensibly benefits borrowers...
...leading in South Carolina and in 24 of 25 Super Tuesday states. Nevertheless, we’re now in June and there is a lot of mileage on this campaign. People really know Obama, Hillary, and McCain, and a case can be made that the general election will never reach the intensity of the primaries we’ve just been through. By this point, it’s definitely food for thought that in key swing states Ohio and Pennsylvania, Hillary beats McCain decisively in polls, and enjoys a moderate six to seven point lead over McCain in Florida...
...Again and again, they grumbled as Clinton appeared to reach a classic throw-in-the-towel moment. She called on her fans to "take a moment tonight to recognize [Obama] and his supporters for all they have accomplished"-uh-oh. But then she pivoted to avoid saying exactly what they had pulled off. Later she said: "In the end, while this primary was long, I am so proud that we stayed the course together," and it sounded like setting up a farewell...