Microfinance

usgb/ˈmaɪkrəʊfaɪnæns/
noun

The practice of giving small loans to people with low income, typically in developing countries, to start their own businesses.

Microfinance has empowered many individuals in low-income communities to start their own small businesses.
Visual representation of "microfinance" - The practice of giving small loans to people with low income, typically in developing countries, to start their own businesses.

Often appears as...

  • microfinance institution
  • microfinance loans
Definition 1 of 2
Visual representation of "microfinance"
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Development Focus

Microfinance is often associated with positive change and development in communities.

Illustration for Development Focus
The microfinance initiative allowed villagers to improve their quality of life.
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Not Charity

It's a form of financial support but expects repayment, unlike charity.

Illustration for Not Charity
Although the microfinance loan had low interest, repayment was mandatory.
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Economic Empowerment

Microfinance aims to empower people financially to initiate self-sufficiency.

Illustration for Economic Empowerment
Thanks to microfinance, she transitioned from a laborer to a business owner.
Visual representation of the word "Microfinance"

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