Prof Donaldson agrees there have been problems in some areas, where micro credit has been unregulated.
By 1989 a government sponsored micro credit bank had 2.7 million rural savings accounts and 6.4 million loans to 1.6 million borrowers.
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Some micro credit, for instance, is highly commercial, some has been unregulated.
We are the torch bearers of micro credit and social business.
The term micro credit covers many different models of doing things.
While countries such as Bangladesh started micro-credit programmes in the 1970s, low population densities in many areas of rural Latin America have meant that micro-credit schemes have been seen as economically unviable in the region.
Social innovators like Ashoka organization founder Bill Drayton and Muhammad Yunus who started the concept of micro credit and those working individually like the Goldman Environmental Prize winners are taking new paths in resolving social and environmental problems.
Moving beyond micro-credit and micro-franchise, a new approach called the MicroConsignment Model has emerged as a first step on the ladder of micro-entrepreneurship at the Base of the Pyramid.
Following the growth of micro-credit, the micro-franchise approach has gained traction by providing a proven business model to micro-entrepreneurs that may lack an entrepreneurial opportunity.
Micro-credit has provided billions of dollars in start-up and growth capital to encourage micro-entrepreneurs around the world to launch their own enterprises to lift themselves out of poverty.
Micro-credit programmes provide low interest loans for the economically marginalised who cannot gain access to credit from conventional banks.
The difficulty with such ventures, which often involve the provision of micro-credit, is that cash is scarce in Mongolia's countryside.
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Micro-credit is one reason for the fall in poverty in Bangladesh, from 59% of the population in 1991-92 to 53% in 1995-96.
The sheer number of new start-up venture capitalists, micro-credit operations, SME boosting private equity funds, and other "financial supermarkets" exploding in Nigeria is inspiring.
The project aims to establish cell-phone based carbon micro-credit systems, using a simple message service to allow families to monetize the carbon offsets they produce.
This is the first micro-credit summit to specifically target Latin America.
Grameen Bank has been a source of ideas and models for the many institutions in the field of micro-credit that have sprung up around the world.
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Mr Fox has wrested both money and power away from the federal government to finance innovations in areas such as education, health care, agriculture and micro-credit.
From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty.
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Delegates from more than 50 countries have gathered in the town of Puebla in central Mexico for the start of a micro-credit conference for Latin American nations.
In Africa, the corporate citizenship programs for companies like Shell, De Beers and Monsanto consist mostly of small-scale social projects like health clinics or micro-credit schemes.
As well as looking at the development of micro-credit schemes targeting the growing ranks of Latin America's unemployed, delegates at the Puebla summit will also discuss ways of more effectively targeting women as recipients of loans across the region.
For example, the path breaking work of Muhammed Yunus and the Grameen Bank shows that small micro-credit loans given to women are nearly always paid back and that the funds are used to invest in businesses, that provide funds to educate children and lift families out of poverty.
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Muhammad Yunus is a global leader in anti-poverty efforts, and pioneered the use of "micro-loans" to provide credit to poor individuals.
The brand reputation a micro entrepreneur builds on any platform is a credit rating of trust- the higher the value, the greater the chance a customer will engage their services.
John Kariuki is the founder and CEO of AAR Credit Services, a Kenyan-based micro-finance company.
The trend to formalisation is largely a result of the greater availability of bank credit and equity capital on the one hand, and recent changes that make it easier to register micro-businesses on the other.
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