Webinar: Microfinance vs. Co-operative Finance: Is there a difference?
Measuring the Co-operative Difference Research Network
This webinar was presented by Dr. Milford Bateman - Independent consultant on local economic development policy, Visiting Professor of Economics at Juraj Dobrila Pula University in Croatia, and author of "Why Doesn't Microfinance Work? The Destructive Rise of Local Neoliberalism." The last thirty years has seen the microfinance model rise to dominate the poverty reduction agenda in both developing and transition countries. This webinar examins the ways in which the microfinance model has actually set back the chances of sustainable local economic development and poverty reduction. The contrast is made between the micorfinance model and co-operative finance models, such as credit unions and financial co-operatives, which are unequivocally associated with sustainable economic and social development and growth, and thus also sustainable poverty reduction. The webinar focused on why microfinance institutions are a poorer choice than co-operatives for personal borrowing, as well as for local enterprise development and expansion.