Vikram Akula, the founder of SKS Microfinance, the for-profit company that is accused of aggressive collection tactics, made an unexpected observation Sunday night at the Social Enterprise Conference at Harvard University. "Professor Yunus was right," Mr. Akula said, referring to Muhammad Yunus, the Grameen Bank founder, economist and a frequent critic of Mr. Akula and others who tried to turn Microfinance into a for-profit industry.
"Sewing Her Way Out of Poverty" has become a popular and successful strategy for women around the world thanks to the social effect of microfinance. Nicholas D. Kristof (column, Sept. 15) has reminded us of the enormous benefits of small, income-generating loans to primarily poor women.
