Amanda Roy Talks about mostly the beneficial effects that microfinance can establish but also takes in the fact that there is much corruption that can be provoked through micro finance. This is a system used to establish a marketplace involving the worlds poorest billions people as a way to hope to jumpstart economic growth while also eliminating loan sharks and “microsharks” as Anand describes in her book.

“Microfinance is essential to this new entrepunerial self made Africa”
Bono uses Vanity Fair issue to get much more attention for microfinance
“The strategy that may save financial capital, will make new market) 15:30
Hezbollah
Largest financial instituition in for microfinance Egypt Came to terms with wasington consesuss on poverty Egpyt is reliant of US: Fight “pollution of free Money” but still take much free money Egyptian social fund
Enzar gull- lost both legs, left arm, and 2 fingers in 1996 Repaid loan in 4 months not 6 as gardener and produces plants successfully Afghanistan-uses microfinance as tool of social reconstruction (MISFA) (tries to reduce credit which would ruin economy in Afghanistan. Broken Country: run over by development NGO’s turned cabo into goldrush
Felicia marks intersection of vectors too. Marks intersection of vectors (capital & development) and indicated militarization of both capital and development. Shadows of eachother.
Third image: finding and saving of afghan woman as imperial of campaigns in Afghanistan
Origin story Development practice Gramming bank 1970’s 4 mill borrowers, loan recovery rate=98% Earned them peace prize for their work
Millenium Development
Poverty Capital the conversion of poverty into capital Ananya Roy wrote the book “Poverty Capital: Microfinance and the Making of Development” with the idea of defining and expanding the idea of microfinance. To Amanda Roy micro finance is a very important idea to creating economic growth in the future for a world which is experiencing the largest deficit between wealth distributions ever. With the introduction of a proper microfinance system the world can start involving the world’s poorest billion people in economic activity and stop observing Africa as an undeveloped wasteland that many of the world unfortunately believes it is.
In the early 1970’s the Grameen Bank started a trend that would slowly change the lives of millions of people throughout the years. They began offering small loans to struggling business owners who were getting taken advantage of by lenders. According to a report from the Grameen Bank’s website they currently have distributed over 17 Billion dollars since inception and have received a 98.35% recovery rate1. This company offers these people small loans with interest rates under 8% as a way to help them avoid doing business with corrupt lenders. Since numerous banks have been involved in the act of microfinance such as the Microfinance Investment Support Facility for Afghanistan which Roy refers to when telling us about Enzar Gull and the story of the success he has had. Microfinance has also been a large contribution for Africa’s growth over the last decade. Africa now does not want additional aid from other countries and are tired of being taken care of by the rest of the world. With this new self-made mindset that African Countries are starting to develop there has been a large increase in their entrepreneurial markets.
All of the lenders of these microfinance loans aren’t always the best solution for many of the lenders and can result in the investor receiving a much better deal. Ananya Roy talks about the Hezbollah’s involvement in Lebanon and their benevolent loans. She explains that the Hezbollah have the most power within this region by producing these loans and implicating their lenders into debt.

1. “Dareem Bank Monthly Reports 08-2015 Sthttp://www.grameen-info.org/monthly-reports-08-2015/