Submission + - New eBay site lets people finance the world's poor
Stony Stevenson writes: EBay launched on Wednesday a Web site allowing ordinary investors to buy securities aimed at improving conditions in the world's poorest countries. MicroPlace will allow people to invest as little as US$100 to support development in impoverished areas. So-called microfinance is the supply of loans, savings, insurance and other basic financial services to low-income households and businesses, typically without collateral. It is often conducted in emerging economies, where people cannot typically obtain bank loans.