What is the social benefit of microfinance?
Given its positive impact on the income situation of poor people, development experts nowadays view microfinance as an important tool for promoting economic and social development. By helping people help themselves, microfinance makes an important contribution to alleviating poverty with positive benefits, including access to education, better health and nutrition. Even a small investment reaches a large number of microentrepreneurs who in turn can use the microcredit to improve the standard of living of their families and employees.
Related Questions
- How did the establishment of schools, churches, and social organizations benefit African Americans during Reconstruction?
- How do microfinance institutions balance social impact and financial performance, isn’t this a contradiction?
- How do people in prison exactly benefit from participating in artistic projects?