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Identify a question that you seek to answer. For example, Is microfinance effective or Should IMF lending be reformed or Does capital account liberalisation promote growth or Do the benefits of remittances outweigh the costs o - Essay Example

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Microfinance can also be defined as financial services for low income and poor clients, which is different by different service providers…
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Identify a question that you seek to answer. For example, Is microfinance effective or Should IMF lending be reformed or Does capital account liberalisation promote growth or Do the benefits of remittances outweigh the costs o
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Identify a question that you seek to answer. For example, Is microfinance effective or Should IMF lending be reformed or Does capital account liberalisation promote growth or Do the benefits of remittances outweigh the costs o

Download file to see previous pages... Therefore, microfinance refers to a movement that envisions a world in, which low- income households and self-employed people have undeviating access to a variety of high quality and reasonable financial services. The services are offered by a range of retail providers to build assets and finance income-producing activities, as well as protection against risk (Armendariz & Morduch, 2010, p. 40). The microfinance services include credit, insurance, savings, and remittances, payments among others.
Microfinance besides giving financial aid to low income earners and poor people provides non-financial products such as health services and business development in poor communities. A question that is frequently being asked is whether microfinance is effective it can be said that the sole purpose of creating microfinance was to improve the lives of people. For example, the people who receive loans from the microfinance are women, as they want to find adequate money to take care of their families and grow their businesses. Therefore, with low interest rates from the microfinance they women are able to reach their ultimate goal of improving their businesses and taking care of their families. This is to say that the microfinance is effective as they help women and low-income borrowers to reach their potential.
Microfinance has also proved to be very effective in that despite yielding financial services to low income borrowers it has established some social return. In that by improving the lives of poor people through financial services, which have increased their incomes they have the capacity to for social needs. For example, the poor with the help of financial services the poor are able to access good health services; proper housing and they can put food on the table for their families as well as educate their children.
Microfinance is effective in that they are the catalyst to alleviating poverty where ...Download file to see next pagesRead More
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