March 4, 2016
Starting with the basics: What is microfinance?
As CGAP defines microfinance, it is the provision of financial services to low-income people. It is an initiative for low-income households to have permanent access to high-quality and affordable financial services to finance their businesses, build assets, stabilize consumption and protect against risks.
The term initially was associated with microcredit, but now it includes a range of financial products, such as savings, insurance, payments and remittances. Microfinance institutions are constantly evolving and improving their understanding of the financial needs of their target clients in ...