Postcards from Rio

Fruits on sale in the Rocinha slum of Rio de Janeiro, Brazil, March 18, 2005. Fruit vendor Ivaldo dos Santos helps finance his small business with a micro-credit from Viva Cred. He says he has increased his sales volume about 30 per cent since he took out a 2000.00 real (about 770 USD) loan six months ago. Viva Cred is a microfinance institution founded in 1996 by the non-governmental organisation (NGO) Viva Rio to serve the residents of poor Rio de Janeiro neighborhoods. It is one of 121 institutions that offer small loans in Brazil, according to Central Bank statistics. Microlending has grown in the past few years, and has even attracted two large private banks, but is still relatively undeveloped with respect to its potential and to the growth achieved in other countries.(AustralFoto/Douglas Engle)

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Fruits on sale in the Rocinha slum of Rio de Janeiro, Brazil, March 18, 2005. Fruit vendor Ivaldo dos Santos helps finance his small business with a micro-credit from Viva Cred. He says he has increased his sales volume about 30 per cent since he took out a 2000.00 real (about 770 USD) loan six months ago. Viva Cred is a microfinance institution founded in 1996 by the non-governmental organisation (NGO) Viva Rio to serve the residents of poor Rio de Janeiro neighborhoods. It is one of 121 institutions that offer small loans in Brazil, according to Central Bank statistics. Microlending has grown in the past few years, and has even attracted two large private banks, but is still relatively undeveloped with respect to its potential and to the growth achieved in other countries.(AustralFoto/Douglas Engle)

economy credit slum vendor 20050318 microcredit