Former Secretary of State Henry Kissinger once called Bangladesh the world’s “basket case.” Unfortunately, the perception that many people still have of this little country consists of one simple idea—it’s one of the poorest countries in the world. But Bangladesh—poised for record growth—is the cradle of modern-day microfinance. Daniel Davis traveled there as a participant in the 17th Biennial International Consortium on Social Development Symposium and discovered a different world, one with some potential solutions for economic development in America.
Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.