Notes

Additional information, supporting documentation, and updates can be found on the website for Confessions of a Microfinance Heretic:

www.microfinancetransparency.com.

Chapter 1 Thou Shalt Not Criticize Microfinance

1. According to the 2011 Global Microcredit Summit, 205,314,500, of whom 153,306,542 are women. See http://www.microfinancegateway.org/p/site/m/template.rc/1.26.17926/.

2. As calculated in Pricing Certification Report: Grameen Bank (Lancaster, Penn.: MFTransparency, 2011).

3. LAPO has rates reaching as high as 144 percent, as confirmed by independent institutions and rating reports, and Grameen Foundation USA is a principal investor.

4. Duvendack et al., What Is the Evidence of the Impact of Microfinance on the Well-Being of ...

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