Jump to ContentJump to Main Navigation
Sovereign Wealth Funds and Long-Term Investing$
Users without a subscription are not able to see the full content.

Joseph Stiglitz, Patrick Bolton, and Frederic Samama

Print publication date: 2011

Print ISBN-13: 9780231158633

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231158633.001.0001

Show Summary Details
Page of

PRINTED FROM COLUMBIA SCHOLARSHIP ONLINE (www.columbia.universitypressscholarship.com). (c) Copyright University of Minnesota Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CUPSO for personal use.date: 13 November 2019

Building Emerging Countries’ Financial Infrastructure by Investing in Microfinance

Building Emerging Countries’ Financial Infrastructure by Investing in Microfinance

Chapter:
Building Emerging Countries’ Financial Infrastructure by Investing in Microfinance
Source:
Sovereign Wealth Funds and Long-Term Investing
Author(s):

Arnaud Ventura

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231158633.003.0023

This chapter closes the panel discussion on socially responsible investment (SRI) by promoting microcredit in developing countries as a natural match for SRI investments by sovereign wealth funds (SWFs). The microfinance market includes three to four billion people worldwide who have no access to formal or traditional financial services in the twenty-first century, mainly in emerging countries. Of these three to four billion people, 500 million could use microcredit to develop their own business. The idea, therefore, is to build a retail financial infrastructure that will provide financial services to this marginalized group. There are two opportunities at the local retail level for funds interested in microfinance: the leading microfinance institutions that know most markets from Asia to Latin America to Africa; and leading microfinance institutions that can be invested in and that can be, with a long-term objective, brought to an exit on the local markets. At the global level, there are a number of microfinance investments: about 100 are based in the United States, Europe, and emerging markets, which can target specific private equity, fixed income, and different types of investment strategies.

Keywords:   sovereign wealth funds, SWF, social responsible investment, SRI, microcredit, microfinance, developing countries

Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .