Most everyone interested in microfinance knows the story of Grameen, either becauseBanker to the Poor somebody gave us Yunus’ Banker to the Poor or because of his receiving the Nobel Peace Prize. In either case, one of the notable “aha” moments for Yunus was the realization that banks didn’t serve the poor in Bangladesh. Microfinance Institutions were quickly able to step in and fill the gap.

Sri Lanka shows just how big that gap can be. Microfinance has been so successful in Sri Lanka that an estimated 60% of the population has accessed financial services through MFIs. In addition to the traditional first phase of microfinance, microcredit, Sri Lankans are also great savers with “75% of households having saved in a financial institution.” For more, see the full article in the Daily Mirror.