In emerging economies, microfinance institutions begin to play an increasing role by providing financial services to poors and small enterprises. However, usury laws are becoming generalized in those countries. This study shows that interest rate ceilings do not really protect small business,...

Les institutions de microfinance (IMF) ont accompli le miracle de faciliter l'accès aux services financiers à des milliers d'exclus du système bancaire classique dans les pays en développement. Mais une polémique naît quant aux coûts élevés associés auxdits services. Cette étude a...

Microfinance institutions (MFIs) have grown fast in WAEMU surprising political decision makers. They reacted by setting up in the late 90's, a specific legislation. A legal usury rate for credits was defined fixing the borrower ceiling interest rate at 27 percent per year for microfinance...

Developing countries are struggling for finding resources to finance their adaptation to or mitigation of the effects of climate change. In that spirit, the Copenhagen summit, the fifteenth Conference of Parties (COP15) can be seen as a success since it ended with an important promise of...