Date of Award

1998

Document Type

Honors Thesis (Open Access)

Department

Colby College. Sociology Dept.

Advisor(s)

David L. Nugent

Second Advisor

Mary Beth Mills

Abstract

On an organizational level supporting the success story of microcredit allows banks to profit, as seen with BancoSol. It allows organizations to continue to receive funding, as seen with FIE. It allows NGOs to simplify the problem of poverty to one of lack of credit and personal ignorance. By doing so, NGOs can maintain training programs which place the client at fault for her poverty, as seen in ProMujer. They appeal to a common sense understanding of poverty and its causes and as a result, continue to receive the necessary funding. The Journal of Commerce is a 170 year old public newspaper for the business community focused on trade and transportation issues. It stated that in the United States, "Foreign aid...has acquired a bad name... and badly needs a poster child. As microfinance gains popularity, it may help out the helpers as much as the intended beneficiaries" (Journal of Commerce 1997: 6). As I have described using the example of USAID, international development agencies must appeal to the public for funding. By continuing to promote microcredit as a low-cost “solution" to poverty, even without impact studies to support their claim, they can continue to secure the necessary funding. On an international level, microcredit support stems from its role in upholding neoliberal policies which have benefited many upper class elites in

Keywords

Microcredit, Urban Market, Bolivia, Women, Poverty

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