Sajjad1994 wrote:
Microlenders offer small loans to borrowers who are unable to get loans from traditional lenders. These borrowers are people in poverty who have no credit history, collateral, or steady employment. Microlending programs allow very poor people to develop or expand self-employment projects that generate additional income and lead them out of poverty. For example, a $100 microloan helped a Sri Lankan woman purchase equipment to produce candy from locally available raw materials. Since the initial investment, her business has grown to employ six women from her community, who are now her partners. Microcredit originated in the 1970s, when Professor Mohammad Yunus, a Bangladeshi economist, discovered the power of making very small personal loans to poor basket weavers. In 1983, he founded the Grameen Bank, which now has over 2,500 branches and 20,000 employees, and is 90 percent owned by borrower shareholders. In 2006, Professor Yunus was awarded the Nobel Peace Prize for "efforts to create economic and social development from below." In 2009, more than 128 million families received microloans, according to the Microcredit Summit Campaign. Over 80 percent of those receiving microloans are women, who have proved to be lower credit risks than men and consistently reinvest in their families and communities. In their press release, members of the Nobel Committee acknowledged that "lasting peace cannot be achieved unless large population groups find ways to break out of poverty. Microcredit is one such means."
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Author is providing some facts about micro lenders , followed by examples and a bit of history about micro lending process. We can say ,tone of the passage is neutral , since that is no opinion of Author..
1. The author's primary objective in the passage is toA. introduce readers to the concept and history of microcredit.
B. chronicle Professor Yunus's path to the Nobel Peace Prize.
C. explain that women are better credit risks than men.
D. demonstrate that microcredit is an ineffective way to bring families up from poverty.
E. predict the future of microcredit.
imo ,
--Option A, is correct . Since The author is intending to provide some facts about microlending and its history
Option B and C is partial scope of the psg and that is not the intention of the author .
Option D is not correct since author is providing facts about microcredit is an effective way to bring families up from poverty.
Option E is out of scope as author hasn't given any prediction 2. The author of this passage would most likely agree with which of the following statements?A. Microlenders are foolish not to insist on credit scores and collateral from their potential clients.
B. Microcredit is a virtually risk-free investment.
C. Microloans have only a small impact on relatively few people.
D. Professor Yunus has demonstrated that business interests and social consciousness are not mutually exclusive.
E. The microcredit model works only in third-world countries.
imo ,
--Option D, is correct . Since The author has demonstrated facts about professor ,who is a economist and founder of Grameen Bank , to help poor people. So the business interest and social consciousness are not mutually exclusive. Option A , B and C is Out of scope , there is no information given about these choices
Option E is out of scope as as well 3. The author first quotes the Nobel Committee in order toA. state that microlending leads to world peace.
B. confirm that microlending has successfully led people out of poverty.
C. illustrate the prestige of winning the award.
D. argue that development from below is more effective than traditional large-scale economic development programs.
E. defend against critics who feel that microlending is ineffective.
imo ,
--Option B, is correct . Since the author want to qualify that the concept of micro lending is successful . Option A , C,D and E is Out of scope , there is no information given about these choices