Overview
Microfinance plays a crucial role in poverty alleviation by providing financial services to those who lack access to traditional banking. It empowers individuals, particularly women, to start their own businesses, which can lead to improved living standards and community development. By offering sma...
Key Terms
Example: A farmer receives a microloan to buy seeds and equipment.
Example: Microfinance aims to include the unbanked population in financial systems.
Example: Many microfinance clients become entrepreneurs by starting small shops.
Example: Microfinance can improve women's status in society.
Example: Some microfinance clients struggle to repay multiple loans.
Example: A microinsurance policy may cover health expenses for low-income families.
Related Topics
Social Entrepreneurship
The practice of using business principles to create social change.
intermediateImpact Investing
Investing in projects that generate social and environmental benefits.
advancedCommunity Development Finance
Financing aimed at improving economic conditions in communities.
intermediateKey Concepts
MicroloansFinancial InclusionEntrepreneurshipSocial Impact