Fiscal Year 1994 Foreign Assistance Authorization Hearings Before the Subcommi
Fiscal Year 1994 Foreign Assistance Authorization Hearings Before the Subcommi
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Can I just add one thing? We worked about 10 years ago on an AID project in Kenya, and the implementing agen- cy in part, the executing agency was the Commercial Bank of Kenya, which was partly Scottish-owned, so here was a rather effi- cient and rather sophisticated lending institution. The idea was to get down to small entrepreneurs and small farmers. I believe at most one loan had gotten out.
You could have a very sophisticated lending sector, but if there is not anything directing them to s...upport the people that need sup- port — well, that is what is happening now. The reforms are not geared to help the small guy on the ground.
Senator Kassebaum. Let me ask, do you think it was an inde- pendent financial system?
Mr. Hellinger. I think the Commercial Bank of Kenya, the rea- son why it was not getting down to the ground was because it did not pay for them to get out a hundred small loans when they could wait for some foreign investor to come along and take one big one. I think in that case there was independence.
What to read after Fiscal Year 1994 Foreign Assistance Authorization Hearings Before the Subcommi?
You can find similar books in the "Read Also" column, or choose other free books by Zation203a20hearings20before20the20subcommit to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Can I just add one thing? We worked about 10 years ago on an AID project in Kenya, and the implementing agen- cy in part, the executing agency was the Commercial Bank of Kenya, which was partly Scottish-owned, so here was a rather effi- cient and rather sophisticated lending institution. The idea was to get down to small entrepreneurs and small farmers. I believe at most one loan had gotten out.
You could have a very sophisticated lending sector, but if there is not anything directing them to s...upport the people that need sup- port — well, that is what is happening now. The reforms are not geared to help the small guy on the ground.
Senator Kassebaum. Let me ask, do you think it was an inde- pendent financial system?
Mr. Hellinger. I think the Commercial Bank of Kenya, the rea- son why it was not getting down to the ground was because it did not pay for them to get out a hundred small loans when they could wait for some foreign investor to come along and take one big one. I think in that case there was independence.
What to read after Fiscal Year 1994 Foreign Assistance Authorization Hearings Before the Subcommi?
You can find similar books in the "Read Also" column, or choose other free books by Zation203a20hearings20before20the20subcommit to read onlineMoreLess
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