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.