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Microfinance does not require previous experience or loans to the same extent as a small-business loan, so it's easier for women to enter the micro sector.

Making loans and fighting poverty are normally two of the least glamorous pursuits around, but put the two together and you have an economic innovation that has become not just popular but downright chic. The innovation - microfinance - involves making small loans to poor entrepreneurs, usually in developing countries.

The invention of the micro-loan was a big surprise to me. Who would have guessed loans of less than $20 made to poor people in undeveloped countries could create thriving local economies? And, even more surprisingly, that they more reliably pay off their debts than the wealthy of the world.

We developed microfinance to fight loan sharks - I was telling people don't go to loan sharks - not trying to take advantage and make money for myself. I would be a junior loan shark if I did... It is not a panacea.

If women had better access to the financial system - even so much as a basic deposit account at a bank - it would be a major step in the direction of greater wealth and greater economic empowerment.

In 1989, I started the National Association of Business Women. We incorporated microfinance and different job training for women. We did a survey, with USAID, that found women lacked training, credit and information.

I have always wondered why more women did not look into owning their own funds. Granted, it is a high stress, high risk business, but it also offers high rewards and control.

Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.

Soon we saw that money going to women brought much more benefit to the family than money going to the men. So we changed our policy and gave a high priority to women. As a result, now 96% of our four million borrowers in Grameen Bank are women.

They explained to me that the bank cannot lend money to poor people because these people are not creditworthy.