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 Business News | October 2006 
Microloan Program Would Help Mexico
 Kathleen Reilly - azcentral.com
| | A privately supported Mexican micro-loan program could provide an alternative to those Mexican people who want to improve the quality of their lives and remain near their family and friends. |
A microloan program similar to that developed by 2006 Nobel Peace Prize winner Muhammad Yunus and his Grameen Bank for Bangladesh could be part of solution of the U.S.-Mexico illegal-immigrant problem.
The microloan program provides small loans (e.g., less than $1,000) either to people who want to start a business or to provide operating capital for an existing business.
A key part of this microloan program is that the recipient of the loan be part of small group of peers who also are candidates for microloans.
This peer group helps each member to develop a business plan, to operate a business, and to cope with problems as the business grows.
A privately supported Mexican micro-loan program could provide an alternative to those Mexican people who want to improve the quality of their lives and remain near their family and friends.
While such a microloan program would not by itself immediately resolve the illegal-immigrant problem, it would provide Mexican people with a viable alternative. |
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