Week 4 - Microfinance Microfinance Microloans Poverty Do not have access to financial institutions Microcredit Small amounts Institutional credit o

Week 4 - Microfinance Microfinance Microloans Poverty Do...

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Microfinance 02/09/2015 ° Microfinance Microloans Poverty Do not have access to financial institutions Microcredit Small amounts Institutional credit o Given out to families with limited access to financial Main goal o Free poor individuals (below the poverty line) Dependency on money lenders Inability to go to financial institutions Can not get to them Do not have collateral 205million people have been served by microfinance institutions, globally ° ° highest percentage of unbanked adults 1. Middle East and North Africa 2. Sub-Saharan Africa and South Asia
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Genderwomen are more likely to be unbanked Disparity of 6-9% gap at all income level in the developing world ° ° Grass root Approach Personal initiative Ground level approach o Local environment o Adapt themselves o Loan officers ° ° 1. Developed initiative that took its roots in the Global South and has expanded to the Global North ° 2. financial institutions have taken up this initiative
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  • Fall '08
  • Detemple,J
  • Poverty, Muhammad Yunus, Grameen Bank, Microfinance Institutions

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