I read an article about microloans in the New York Times. Microloans are a hot new topic in economics that allow people in les developed countries to get loans. Typically it is hard to get a loan in these countries because property ownership rights are shady, thus banks don't have very good collateral. Microloans work by using social pressure as a replacement of collateral enabling them to get a loan.
My concern is that the level of success that microloans have will vary greatly on a particular culture. Some cultures are more likely to have social structures that will motivate than others.
Here is the link to the article: