外文翻译--小额信贷业发展的阵痛(编辑修改稿)

外文翻译--小额信贷业发展的阵痛(编辑修改稿)内容摘要：

more outreach, so they provide another loan, she said. When given the choice, most borrowers gladly take advantage of the extra credit. People cannot correctly evaluate their loan needs. They are just taking, taking, taking and then they cannot repay. Traditional banks, too, have begun to woo the microborrower in many countries, increasing pressure on microfinance institutions to hold market share. In this context of new petitors, of different petitors, bigger petitors than us, all this fight [means it can be] very easy to lose the mission, said participant Rafael Llosa, general manager of Mibanco, a private bank in Lima, Peru, that focuses on micro and small businesses. Because you are fighting to be the leader in the market and you are fighting to survive, you start [focusing] on other things. And yet, profits are essential if the microfinance institution wants to carry out its mission of poverty alleviation, participants said. You have to charge interest to cover all expenses, said Marie Louise Nsabiyumva, CEO of Burundibased savings and credit cooperative . and vice chair of the Burundian Microfinance Network. Otherwise, you would disappear. And that isn39。 t useful for the client. Added Llosa: If we are not profitable, we are not sustainable. For that reason, it39。 s not an error to have profits. Building Coalitions But how much profit? In Andhra Pradesh, state government officials in October cited microlenders39。 quest for hyper profits as reason to clamp down on the industry. Many microfinance panies in India seek investor capital, in part because of India39。 s banking laws, noted participant Vikram Jetley, chief operating officer for Bangalorebased microfinance pany Ujjivan39。 s north region. According to the pany39。 s website, Ujjivan has pleted four rounds of capital infusions and plans to offer an IPO after three years of profitable operations. We have two different kinds of investors, he noted: pure social investors and private equity investors. As a part of our mission, we have clearly defined that our return on equity would be at best 15%. So someone who is looking for a really aggressive return on equity would never e with us. Established in 2020, Ujjivan uses the Grameen model of lending to groups of women borrowers and focuses on urban microfinance. It currently boasts a % repayment rate from its more than 975,000 customers in 20 states. Regulated by the Reserve Bank of India as NonBanking Financial Companies, microfinance institutions such as Ujjivan must maintain a minimum capital adequacy ratio but cannot take deposits, according to Jetley. So we have to go to the capital markets. Otherwise we will never be able to scale up. According to Narasimhan Srinivasan, author of State of the Sector Microfinance India 2020, the number of microloans in Andhra Pradesh now amounts to almost 10 times the number of poor households in the state. But Srinivasan also reports that not all loans came from microfinance institutions. Borrowers in Andhra Pradesh can also get credit from the Self Help Group (SHG) program, a government poverty alleviation program funded in part by the World Bank that offers microloans at belowmarket rates. Srinivasan found that onethird of loans distributed in Andhra Pradesh were given out by microfinance institutions, while twothirds were given to borrowers in the SHG program. The Andhra Pradesh crisis happened because the government has been going there and promising a 3% rate of interest while。