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BENIN: Corrupt microfinance institutions profit from poorest

COTONOU: Local NGOs subcontracted by a multi-million-dollar microfinance programme are taking bribes from borrowers, according to the fund's directors.

8 Jan 2009

Aboubacar Aboudou, the first director of the government-run “microloans to the poorest” programme, told IRIN a lack of oversight and the programme's rapid growth since its creation in February 2007 has left it open to “unscrupulous intermediaries” hired to process loans.

Read the full article on IRIN.