Private Sector Development and Microlending
PRA are experts in micro-lending in emerging markets as well as policy changes to foster private sector development. PRA has advised governments on free-trade zones, locomotive rehabilitation programs and aircraft re-engining. PRA partners have also assisted governments in project finance and renewable energy policy changes.
Microlending is a program to identify entrepreneurs who may use loans from $50-300 to improve or expand a business concept. They are the most productive sector of the economy generating output, innovation and employment. In the example above, PRA partners identified farmers and loaned them 2x their annual income. Using new technology, the farmers were able to double their production and repay the small loans within one year - creating a revolving fund for new participants.
A development strongly supported by PRA is the settlement of transactions via mobile phone accounts. This is a powerful development in the funds transfer environment.
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