Micro-Fnance: A New Path Forward?

When thinking of new and effective ways to reform how aid is given, does Micro-finance come to mind? Do you know what micro-finance is? Micro-finance is when lenders give money to poor people who are usuallly denied accesss to banking & other financial services because many lenders are wary of thought of not being able to be repaid or they may get ripped off. However, with the advent of Micro-finance, pioneered by Muhammed Yunnus, many of millions of destitute farmers and slum dwellers are given access to capital to pay down debt or to start a business. This has given me an idea: Shoudn't the U.S. set up a global Micro-finance fund to aspiring entrepreneurs across the developing world? Will it run in to difficulties in the short-term? Yes. But long term this program has real potential to lift millions out of poverty and create goodwill for the U.S. across the developing world. Domestically this could breath a new lifeline into struggling small businesses who suffer from lack of credit in the economy.