Has the success of microfinance encouraged some commercial banks to enter emerging market economies at this level?
I believe so and that’s great. The more competition in the market, the better. If there are two or three organisations competing to provide finance to people, that will only benefit them and their communities and that’s fantastic. Have you personally visited any Opportunity International projects? I’ve been to India and visited a number of projects in Bangalore, Hyderabad and Kolkata. In every case, quite different little businesses were being started up. I’ve mentioned the bicycle hire business. Others were selling vegetables, or making saris (traditional Indian dresses) and other clothing. There’s a whole range of projects and it’s inspiring to see how astute people can be. They’d hold their own in the business community here in Australia. All people need is the opportunity. They grab those opportunities with such fervour and enthusiasm and rise both financially in their self-esteem. On my most recent trip to India, we visited a group in a very small village in Bengal. This is a vill
