WHAT IS
MICROFINANCE?

Microfinance is a banking strategy developed by Nobel Peace Prize winner Muhammad Yunus to eradicate world poverty. Small loans are made to the working poor by microfinance institutions in developing countries. The recipients are able to establish or enlarge their businesses to a sustainable and profitable level with this source of credit. They then use their profits to provide a better life for themselves and their families.

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  • Josephine Uche of Nigeria used her loan to purchase more kerosene to sell in her community.

    Aur Aum of Cambodia used his loan to grow his battery-charging business, since his village does not have electricity.

    Asia Shah Sawar, a member of a borrowing group based in Pakistan, used her loan to increase the inventory at her grocery store.