Right. When we started, no major bank was making loans to poor people, so the non-governmental sector had to get involved. It was motivated by wanting to help people in poverty move out of poverty. In doing that, they developed techniques and systems that for-profit organizations were able to apply, and then they found that this could make money, so they began to get involved.
What is happening is that there's a whole lot of overlap between the two. Opportunity, for example, is a non-profit organization here in Canada, but it owns for-profit banks in other parts of the world. It's the shareholder that they have to report to. There's a lot of blending when you have this mix of social mission and private mission. Then as you get to the upper tiers—the more easy-to-reach client base in more accessible communities—you get to purely private models.
In other words, instead of a clear dividing line, what we have is this space in which there's a lot of blending going on. It's the job of the NGOs, the job of the socially motivated, to keep pushing down-market, to keep finding the client bases that are harder and harder to reach, and to continue the R and D work that the private sector will later pick up.