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CALMEADOW NOVA SCOTIA
From 1991 until January of 2001, CALMEADOW experimented with various forms of microlending both rural and urban throughout the province of Nova Scotia. The experiments, while frequently encouraging, failed to reach a critical mass of clients sufficient to sustain the operations without heavy ongoing subsidy. The attached report by Robert Wright, former manager of CALMEADOW Nova Scotia and Nic Friendly, an independent consultant, gives an insight into the range and depth of the experience as well as some conclusions on the challenges facing anyone interested in operating a stand-alone fund in a developed country like Canada.