Alex Counts is President and CEO of Grameen Foundation.
[caption id="attachment_250" align="alignleft" width="300" caption="Cashpor client receives her loan"][/caption]
Recent articles in the Wall Street Journal about the activities of Indian microfinance institutions (MFIs) and the role global investors are playing in the sector’s development have sparked intense debate about microfinance losing its way. While the articles do highlight a few real challenges facing clients and MFIs in some isolated cases, we believe they contain significant errors, omissions and distortions. Two leading microfinance practitioners, Vikram Akula of SKS and Samit Ghosh of Ujjivan, have critiqued the articles and we encourage people to read what they have written.