Author: Matthew Housiaux

SEATTLE — In 2006, microfinance became the darling of international development. Supporters were enthusiastic about its potential to lift millions out of poverty through small loans that would turn destitute workers into budding entrepreneurs. Muhammed Yunus — the Bangladeshi banker who pioneered the concept and founded the Grameen Bank, the world’s first major microfinance institution — received that year’s Nobel Prize for his efforts “to create economic and social development from below.” However, fast forward ten years and microfinance’s luster has faded significantly. Yunus continues to face legal issues thanks to an ongoing feud with the Bangladeshi government. Moreover, a growing…

SEATTLE — Despite many years of high economic growth, India still suffers from numerous development problems. Among the worst is poor sanitation, which is responsible for an estimated one in 10 deaths in the country every year. Now, India’s government is hoping to change that with the help of a $1.5 billion loan from the World Bank. The money will go to support the rural component of Clean India Mission, the country’s largest ever campaign to improve rural sanitation. According to the World Bank and the United Nations, poor sanitation is both a problem in itself and the root cause…

SEATTLE — Bitcoin has been more of a curiosity than a legitimate financial tool for much of its short history. Lately, a number of economists and entrepreneurs have come to see the digital currency as a means to promote financial inclusion in parts of the world where traditional banks are scarce and markets underdeveloped. Financial inclusion is critical for reducing poverty in the developing world. According to the Center for Financial Inclusion, a Washington, DC-based think tank, people who have access to a range of financial services at affordable prices are better able to accumulate savings, obtain credit and build…

SEATTLE — When civil war finally comes to an end, the challenge will begin to rebuild Syria where five years of conflict have reduced major cities to rubble and left 80 percent of the population impoverished. Reconstruction will come with a hefty price tag. The World Bank estimates that it will take at least $170 billion to rebuild Syria and get the country back on its feet. Here are five things the international community can do to help rebuild Syria successfully: Focus on repairing critical infrastructure: Syrian infrastructure has sustained serious damage due to prolonged fighting. According to the World…