New eBay site lets people finance the world’s poor
October 24th, 2007

EBay Inc, the world’s largest online auctioneer and payments company, launched on Wednesday a Web site allowing ordinary investors to buy securities aimed at improving conditions in the world’s poorest countries. Reuters reports

MicroPlace, will allow people to invest as little as $100 to support development in impoverished areas.

So-called microfinance is the supply of loans, savings, insurance and other basic financial services to low-income households and businesses, typically without collateral. It is often conducted in emerging economies, where people cannot typically obtain bank loans.

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