History of Microfinance
1961: ACCION International was founded in Venezuela with $90,000, raised from private companies by Joseph Blatchford. Initially the funding was used to build schools and water systems, before turning to microcredit in 1973.
1971: Opportunity International, founded by Al Whittaker and David Bussau, lend to microentrepreneurs in Indonesia and Columbia. In 1979 they expan...