How microcredit is compares to microfinance?
Microcredit refers specifically to loans and the credit needs of clients, while microfinance covers a broader range of financial services that create a wider range of opportunities for success. Examples of these additional financial services include savings, insurance, housing loans and remittance transfers. The local MFI might also offer microfinance plus activities such as entrepreneurial and vocational skills training, and advice on topics such as improving living conditions, and the importance of educating children.
