Is the Paternalistic State Returning?
“NO!” was the private sector’s response when it saw the costs engineering. But will that stop the state project? Experts confirm that in principle there is nothing wrong with governments being involved in microfinance activities, so long as such involvement is carried out with criteria of sustainability and appropriate technology in an open market. In fact, examples of good public administration of microfinance can be seen in Banco del Estado de Chile (“State Bank of Chile”) and Banco del Nordeste de Brasil (“Northeast Bank of Brazil”). The Ecuadorian government’s concern is understandable. Coverage by microfinance institutions—which have extended micro-loans to one million Ecuadorians—is still not the norm. The sector has not been able to offer competitive rates or terms that allow financing investments in equipment or housing. “I am especially concerned with how the fees charged to clients lead to higher ultimate costs that threaten the viability of microenterprises financing their w
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