123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Hardware-Software >> View Article

Microfinance

Profile Picture
By Author: Santhosh Kumar
Total Articles: 54
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Microfinance is the provision of a broad range of financial services such as– deposits, loans, payment services, money transfers and insurance products – to the poor and low-income households, for their microenterprises and small businesses, to enable them to raise their income levels and improve their living standards.

Microfinance is the provision of loans and other financial services to the poor. The microfinance has evolved due to the efforts of committed individuals and financial agencies to promote self-employment and contribute to poverty alleviation and provision of social security.

Core Principles for Microfinance:

➣ the poor needs access to appropriate financial services.
➣ the poor has the capability to repay loans, pay the real cost of loans
And generate savings.
➣ Microfinance is an effective tool for poverty alleviation.
➣ Microfinance institutions must aim to provide financial services to an
Increasing number of disadvantaged people.
➣ Microfinance can and should be undertaken on a sustainable basis.
...
... ➣ Microfinance NGOs and programs must develop performance Standards that will help define and govern the microfinance industry Toward greater reach and sustainability.

MICROFINANCE AND ITS IMPACT IN DEVELOPMENT:

Microfinance has a very important role to play in development according to proponents of microfinance.
UNCDF (2004) states that studies have shown that microfinance plays three key roles in development.
It:
_ helps very poor households meet basic needs and protects against risks,
_ is associated with improvements in household economic welfare,
_ helps to empower women by supporting women’s economic participation and so promotes gender
Equity.

Total Views: 366Word Count: 236See All articles From Author

Add Comment

Hardware/Software Articles

1. What Is A Courier Management System In Odoo? A Complete Overview
Author: Mayur Meheshwari

2. How Ai Brings Stability To Algorithmic Stablecoin Development
Author: John Parker

3. Destination-style Wedding Venues In Delhi Ncr Without Leaving The City
Author: venueindelhi

4. Testing Skills Every Quality Assurance Engineer And Developer Should Master
Author: brainbell10

5. Marketing Cloud Integration Made Easy With Usa-based Salesforce Developers
Author: Vihan Richard

6. Is Gcc High Mandatory In 2025? Here’s What Federal Contractors Must Know
Author: ECF Data

7. How Online Monitoring Systems Enhance Efficiency In Spinning Operations
Author: Datalog

8. Auto Garage Software In Uae – Boost Your Workshop Efficiency
Author: Auto Garage Software - Masstechme

9. Why A Contemporary Purchase Order Platform Is Necessary To Remove Manual Errors
Author: vishva

10. Best Supplier Management Software For Fast-growing Businesses: A 2025 Review
Author: vishva

11. Ai-powered Workflow Automation For Healthcare Efficiency
Author: Prasanth

12. How Enterprises Are Leveraging Ai In Market Research To Move From Guesswork To Precision
Author: Digital Clerx

13. Harnessing Competitor Product Automatch For Smarter Market Strategies
Author: Prodfinity

14. Best Instagram Clone To Launch Your Own Photo And Video Sharing App
Author: Primocys

15. Why Indian Homes Are Switching To Wall-hung Toilets
Author: plumbing bazzar

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: