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PACIFIC BEAT - ABC RADIO AUSTRALIA Updated October 6, 2010 10:44:46
A major microfinance organisation in Fiji is finding that slow and defaulting loan repayments are driving its finances to the brink, just as other schemes worldwide - especially in Africa and its birthplace, India - flourish.
It has been revealed the Pacific has one of the highest rates of people defaulting on their microfinance loans. The loans are designed to provide people who would not normally be able to get a bank loan access to funds.
Dorinda Work of Microfinance West says they are investigating all of the factors dragging the scheme down, including suggestions it may be a cultural issue in the way lending money is handled in Fiji.
Presenter: Geraldine Coutts
Speaker: Dorinda Work, manager of Microfinance West in Lautoka