A new report released by the United Nations in 1998 repeated many of the old arguments about why micro-lending programs can work only in places with certain unique characteristics. The report argues that “many people, especially the poorest of the poor, are usually notin a position to undertake an economic activity, partly because they lack business skills and even the motivation for business. Furthermore, it is not clear if the extent to which micro-credit has spread, or can potentially spread, can make a major dent in global poverty.”5
