FINCA's History: 1984, Where Village Banking Began
Working with farmers in Bolivia in 1984, John Hatch—a Fulbright-trained economist and international development expert—conceives a small loan program that puts the poor in charge. The program allows them to obtain loans without collateral and gives groups of neighbors the power to collectively disburse, invest and collect loan capital as they see fit.
John calls these groups “Village Banks.” His first pilot program is enormously successful.
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