Internet Auction Company Starts Microfinance Site
October 24, 2007
The world’s largest online auctioneer and payments company, eBay, has started a Web site, MicroPlace, to give people a way to buy securities online that support loans to microfinance lending institutions for the world’s poorest countries, reports Reuters.
While investors earn a return on their investment, the microfinance institutions supply loans, saving accounts, insurance, and other basic financial services to low-income households and businesses.
