Photo: Godong/Alamy/Alamy Stock Photos/mauritius images
Microcredits have long been considered a miracle cure for global poverty reduction in development cooperation. But it is not only since the current debt crisis in Cambodia that voices critical of the entire microfinance system have become louder.
The website of the European Investment Bank (EIB) presents video clips about people from developing countries who have been able to take out loans through microfinancers and become successful micro-entrepreneurs. In one of them, Kouadio Kouadio from the Ivory Coast tells how he managed to escape poverty and start his own business: In 2016, he had the idea of ​​starting his own small sewing business, but he lacked the funds for the necessary investments. With the help of a small loan from the EIB-supported microfinancer Baobab, Kouadio was able to realize his dream of owning his own business, moving out of home and starting his own family.
Afrifa Christe, also from the Ivory Coast, tells in another
