North-South reversal: Third world microloans help fight poverty in US

Since the 1970s microfinance has become a major instrument for poverty alleviation in developing countries. One of the leaders of this movement, Grameen Bank of Bangladesh, is now partnering with Capital One support women, often single moms, living below the poverty line in the US. Reversing the usual direction of North-South relationships, Grameen has opened an office in New York and aims to reach at least 80,000 women. Groups of 5 women will work with loan officers to setup everything financially necessary to start a business. | Find out more on CNN Money

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North-South reversal: Third world microloans help fight poverty in US

Since the 1970s microfinance has become a major instrument for poverty alleviation in developing countries. One of the leaders of this movement, Grameen Bank of Bangladesh, is now partnering with Capital One support women, often single moms, living below the poverty line in the US. Reversing the usual direction of North-South relationships, Grameen has opened an office in New York and aims to reach at least 80,000 women. Groups of 5 women will work with loan officers to setup everything financially necessary to start a business. | Find out more on CNN Money

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