Description: When night falls in remote parts of Africa and the Indian subcontinent, hundreds of millions of people without access to electricity turn to candles or flammable and polluting kerosene lamps for illumination. Slowly through small loans for solar powered devices, microfinance is bringing light to these rural regions where a lack of electricity has stymied economic development, literacy rates and health.

Source: Reuters.com

Date: 10/27/2009

Link:  http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE59Q01J20091027

Questions for discussion:

• What are the benefits of microfinancing of electricity?
•  Is microfinancing a viable alternative to large-scale government capital budgeting projects? Explain your answer.
• What are the economic ramifications for economic development if microfinancing grows in popularity?