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Microcredit
M
icrocredit is the extension of small loans
to enterpreneurs too poor to qualify for traditional bank loans. It has proven an effective
and popular measure in the ongoing struggle against poverty, enabling those without access to
lending institutions to borrow at bank rates, and start small business. But with the current
explosion of interest on microcredit issues, several developmental objectives have
come to be associated with the it, besides those of only "micro" and "credit". Of particular
importance is that of savings - as an end in itself, and as a guarantee for loans.
Microcredit has been used as an 'inducer' in many other community development activities, used as an entry
point in a community organizing programme or as an ingredient in a larger education/training exercise.
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| Microcredit Summit
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Press Release
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