Microfinance – where financial institutions back tiny start-ups and would-be entrepreneurs in the poorest parts of the world – is little more than a gleam in the eye of most of the world’s biggest banks. But it is the one area of subprime lending that still has a reputation for being relatively low risk in spite of the financial crisis and is attracting new investment. Some of the world’s biggest pension funds have increased their investments in microfinance this year and expect to raise it further in the next few years.
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