Globalizing microfinance and crisis: international best practice meets local practice in Bosnia
Monica Lindh de Montoya (Gothenburg University)
Since the end of the war in Bosnia and Herzegovina in 1996, microfinance has been a tool used by donors and NGOs with the intention of reducing poverty and rebuilding the economy of the country. With the support of numerous multi- and bilateral donors, a dozen successful internationally ranked sustainable microfinance organizations with expertly trained local staff have been established. Yet the expansion of microfinance has not been entirely unproblematic, and the economic boom between 2006 and 2008 followed by the international financial crisis in 2009 brought several issues to the fore. This paper will explore the ways in which the globalizing microfinance industry and its ideology are currently being played out in Bosnia, the impact on microfinance clients, and how local conditions and concerns interplay to produce unexpected results.
Markets, moneys, and mobilities: transnational organizing