The global micro-credit industry has been hurt by the financial crisis but loan defaults by the world's poor remain low and private equity money will still fuel growth, a micro-finance group said.
The industry, which provides small loans to entrepreneurs who lack access to mainstream banking, has expanded rapidly since Bangladeshi economist Muhammad Yunus and his Grameen Bank shared the Nobel Peace Prize in 2006.
But Women's World Banking, billed as the world's biggest network of micro-finance institutions, said micro-financiers were struggling to raise funds to loan to the poor because of soaring borrowing costs and predicted growth would slow sharply.
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