The Pledge

"Stuart Rutherford is the single most astute observer of how microfinance really works."--Thomas Easton, Asia Business Editor, The Economist "This insightful and powerful book about ASA, one of the world's great microfinance institutions, gives a rare view into the real world of microfinance. With his deep knowledge of Bangladesh, microfinance, ASA, and the economics of poverty, Stuart Rutherford uses a variety of perspectives to show how ASA developed and how millions of poor people benefit. The Pledge reveals, at multiple levels and over a 30-year period, the stages of ASA's development. And it does this in astute juxtaposition with the changing environment of Bangladesh, one of the poorest countries in Asia. This book is a gem."--Marguerite S. Robinson, author of The Microfinance Revolution "Stuart Rutherford's The Pledge is an outstanding contribution to the microfinance literature. ASA is generally accepted to be the most efficient and successful microfinance institution in the worl--and therefore worthy of careful study. There are few authors able to capture the complex nuances and issues of microfinance and write on them with such entertaining clarity...and Rutherford is particularly well placed to document ASA's story, as he has worked with the organisation for nearly two decades. The Pledge provides valuable insights and will be one of the top five 'must read' books for anyone and everyone interested in microfinance."--Graham A. N. Wright, Programme Director, MicroSave