Topic B: Alternative Finance for Small Businesses in Conflict Zones
Alternative finance refers to forms of finance that differ from the traditional system, particularly regulated banks and capital markets. While there are many different forms of alternative finance, when considering issues of conflict zones, I would like to focus on microfinance. Microfinance, according to Google, is another term for "microcredit" which in turn is defined as " the lending of small amounts of money at low interest to new businesses in the developing world". While assuredly it can be used to introduce technology and vice-versa (Topic A), there is the question of whether or not such forms of financial support can be used to help develop small businesses and grow jobs in conflict affected areas of the world (Topic B). The World Bank (see "Helpful Links" below) is a strong believer that "solid financial infrastructure for small-scale lending can help people weather a crisis or, in other words, support their economic resilience." ...