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Microfinance Snapshots
- 1973: ShoreBank, which specialized in microfinance, was founded
- 2006: Muhammad Yunus and Grameen Bank won the Nobel Prize for his work in microfinance
- Access to Credit: Fewer than 2 per cent of poor people have access to financial services (credit or savings) from sources other than money lenders. Data Snapshots on Microfinance - The Vir...
- Demand: • There is a potential demand for microsavings services from 19 million savers. Data Snapshots on Microfinance - The Vir...
- Men use Microfinance: • Though women appear to benefit most, studies indicate that many loans awarded to and paid back by women are in fact used by men. Data Snapshots on Microfinance - The Vir...
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Microfinance is a practice used to provide basic financial services, such as loans, savings, and various insurance services to the poor. Because this is a service provided for low income homes, transactions are typically less than $100. Microfinance has generated excitment from people concerned with international development in poor countries, where typical investment programs are not widely accessible.
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Criticism of Microfinance
Both proponents and opponents of microfinance have criticized the high interest rates charged to some borrowers. Indeed, Mhuammad Yunus, who won the Nobel Prize for Economics in 2006 argued that lenders in impoverished nations who charge more than 15% above long-term operating costs should face penalties.
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Flawed methods? Grand statement-itis? Assumptions wrong? RT @Kubaruorg: social impact measuremt #microfinance article http://bit.ly/4SFSCm
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RT @Kubaruorg: Knowledge@Wharton - social impact measurement and #microfinance article http://bit.ly/4SFSCm
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Research Paper: A framework for regulating India’s Microfinance Sector http://bit.ly/66u2oS via @AddToAny
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@Microfundo and @vittana are two great examples of the diverse possibilities of #microfinance. check them out!
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