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BRAZIL-NORTHEAST/MICROCREDIT
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June 24, 2010
Maria Jacinta da Silva cooks barbecued meat at her store in Recife, northeast of Brazil, May 5, 2010....
Recife, Brazil
To match Feature BRAZIL- NORTHEAST/MICROCREDIT.
Maria Jacinta da Silva cooks barbecued meat at her store in Recife, northeast of Brazil, May 5, 2010. Microcredit program booms in Brazil's poor northeast. The program started 12 years ago with a simple idea but one that was radical in Brazil, whose huge informal economy has long been cut off from access to credit. The bank assesses prospective clients' funding needs and provides a loan of anywhere between 100 reais ($57) and 15,000 reais ($8,475) at low interest rates. In a country infamous for its stifling bureaucracy, all clients need is a national ID card, a tax number, an address, a proven economic activity and to be part of a small group of fellow borrowers. Picture taken May 5, 2010. To match Feature BRAZIL- NORTHEAST/MICROCREDIT. REUTERS/Bruno Domingos (BRAZIL SOCIETY - Tags: BUSINESS FOOD) SOCIETY)
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