Micro-credit in Spain: a comparison with the Southern approach

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Acknowledgements

The research on which this article is based was funded by the Research Projects of the Government of Aragon (P057/2000) and by a grant (UZ00-SOC-03) from the University of Zaragoza. Feedback from the anonymous reviewers led to significant improvements.

Notes

1. This association was created in 1989 as part of an international network of investors in the social economy, to fund social and environmental projects. It is characterised by the sectors in which it invests, and by its approach to investment and savings, with an emphasis on transparency in the use of savings entrusted to the members.

2. The rate of exchange during the research period (2003) was approximately 1 € = 1 US$.

3. Spanish savings associations must devote part of their funds to so-called ‘social works’ which undertake social and environmental activities in their areas of operation.

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Notes on contributors

Begoña Gutiérrez Nieto

Begoña Gutierrez-Nieto lectures in the Faculty of Economic and Management Sciences at the University of Zaragoza, and also teaches post-graduate courses on non-profits.