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Developing community finance in the UK
01.09.2004
How different is the role of community finance in industrialized countries from microfinance in developing countries? This article outlines the needs of clients from poor communities in industrialized countries, currently excluded from mainstream banks. Drawing on the experience of Sreet(UK), it describes the types of products and services that can best meet these needs, designed first to reduce exposure to risk, then to invest in businesses or self-employment. A number of possible ways in which mainstream banks and insurance companies can partner community finance organizations are suggested, as well as ways in which the government can support the process.