This book focuses on how the demand formicrofinance can be met on a global scale. It documents thecontributions of institutions and of people who have led thedevelopment of commercial finance for the poor, and itanalyzes the principles on which the microfinance revolutionis based. In sum, this work offers a detailed overview ofthe development of microfinance over the past 20 years; aglobal view of microfinance in the developing world (largelyexcluding Eastern Europe); a thesis on the future path ofmicrofinance; a coherent theory about microfinance--why itworks when so many other development interventions fail;detail on a number of important microfinance topics--such asinformal moneylending and savings; an important study on,and lessons from Indonesia, with detailed analysis of BankRakyat Indonesia; and, brief studies of many othermicrofinance institutions in Africa, Asia, and Latin America.