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Confessions of a Microfinance Heretic by Hugh Sinclair

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10 Blowing the Whistle from Mongolia

We took the Trans-Siberian train to Mongolia. What a delightful way to travel to work.

Much of the actual whistle-blowing concerning the more nefarious activities of the microfinance sector, LAPO, and its investors took place from Mongolia, of all places. This was ironic, since the country demonstrates one of the best examples of effective microfinance I have seen. Anyone feeling disillusioned with microfinance ought to visit Mongolia.

Mongolia is a vast country with one of the lowest population densities on earth, beaten only by Greenland and the Falkland Islands. Travel ranges from hard to impossible most of the year. Many Mongolians are nomadic, so even the notion of a fixed address can be nebulous. Temperatures ...

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