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.
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.