Microfinance dans les pays du Sud : quelle compatibilité entre solidarité et pérennité

摘要

Microfinance in the developing countries The current emphasis on financial sustainability can not be dissociated from the solidarity issue. This paper utilizes case studies to explore the compatibility between sustainability and solidarity. With regard to the risks issues, group lending schemes seems to be the best solution. A high degree of social connectedness facilitates action, coordination, effective sanctions and reduction of transaction costs. But empirical evidences give some insights on the conditions under which groups perform well or badly. With regard to the costs issues, two alternatives are considered : self-management programs and partnerships between financial institutions and associations. In the first one, sustainability and solidarity are joined together. In the second one, they are dissociated. JEL Classification : D63, O16