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: 260Word Count: 236See All articles From Author

Add Comment

Hardware/Software Articles

1. Why Progressive Web App Development Is The Future Of Digital Experiences
Author: Elite_m_commerce

2. Creative Review Software's Function In Simplifying The Design Process
Author: ayush

3. Root Intrusion: Identifying And Preventing Damage To Your Sewer Pipes
Author: Nu Flow Technologies

4. How Cipp Sewer Repair Revolutionises Traditional Pipe Replacement
Author: Nu Flow Technologies

5. A Comprehensive Guide On How Does Whatsapp Make Money?
Author: Piyush Thakur

6. Unlocking Success: The Ultimate Guide To Free Accounting Software And Bill Management Software
Author: software specialist

7. Highlighting The Importance Of Finance And Business Analytics In Corporate Finance
Author: BiCXO

8. Simplifying Video Review And Approval Procedures Using Review And Approval Software
Author: ayush

9. Cash-flow Management In Fp&a: A Guide To Managing, Cash Flow With Expense Data Analytics Tools
Author: BiCXO

10. 2024's Top Free Online Design Proofing Tools
Author: ayush

11. The Biggest Supporting Pillars Of A Prominent Library Management System
Author: Libsys Ltd

12. Food Delivery App Development: Choosing The Best Solution For Your Business
Author: Elite_m_commerce

13. Why Every Business Needs Payroll Management Software
Author: Hourglass IT

14. Wordpress Ecommerce Development Services | Egrove Systems | Wordpress Ecommerce Development Company
Author: Egrove systems

15. Is Erp Software Needed For Garage Management ?
Author: FACTS

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