Microcredit

Microcredit

The term ‘Microcredit’ is not new in economics. But still many of us don’t know about it. As I saw in some statistics, it has a strong success rate for removing poverty in many countries. I choose this topic because I get interested on it.

Micro-credit is a credit system that provides- agricultural credit, rural credit, cooperative credit, consumer credit, credit from the savings and loan associations, from credit unions and from money lenders.

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It programs extend small loans to very poor people for self-employment projects that generate income, allowing them to care for themselves and their families.

As I have just getting to know about it further, for today I am just finishing my post after only delivering the meaning or definition of Microcredit. But I put some links below for further information.

  1. http://www.microcreditsummit.org/
  2. http://www.grameen-info.org/index.php?option=com_content&task=view&id=28&Itemid=108
  3. http://www.accion.org
  4. http://www.microcreditsummit.org/stories/intro.htm
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