In the early 2000s, a few pioneers started to experiment with the microfinance model in Western Europe. Faisel Rahman, fresh from managing a $120 million World Bank microfinance program in Bangladesh, was one such social entrepreneur. He had worked with 200 microfinance institutions (MFIs) in Bangladesh, creating the first microenterprise fund to grow businesses in rural areas. The experience opened his eyes to the similarities between financial exclusion in the developed and developing worlds. …

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