Of course, at that time the situation was different in many respects. Debt ratios were much lower than they are today, for both public and private debt. Inflation had already been higher in the 1960s and early 1970s. And arguably, before this episode, the Fed may have been less independent and less focused on inflation than it is today.
It attracts  2  BIS Review 77/2010  recipients to save the funds received for intermediation. This in turn enhances a culture of saving which will promote growth and wealth creation. Finally, the Central Bank of Kenya and the Association of Microfinance Institutions (AMFI) are looking for ways to hasten the speed of rolling out microfinance institutions.