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She gave the world Barack and Indonesia microfinance…

27 March 2009
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My dear friend Noella, sent me an article published in TIME on The Story of Barack Obama’s Mother , S. Ann Soetero. “Ann’s most lasting professional legacy was to help build the microfinance program in Indonesia, which she did from 1988 to ’92—before the practice of granting tiny loans to credit-poor entrepreneurs was an established success story. Her anthropological research into how real people worked helped inform the policies set by the Bank Rakyat Indonesia, says Patten, an economist who worked there. “I would say her work had a lot to do with the success of the program,” he says. Today Indonesia’s microfinance program is No. 1 in the world in terms of savers, with 31 million members, according to Microfinance Information eXchange Inc., a microfinance-tracking outfit.”

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