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microfinance |
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microfinance: see microcredit microcredit, the extension to poor individuals of small loans to be used for income-generating activities that will improve the borrowers' living standards. The loans, which may be as little as $20 for very poor borrowers in some developing countries, typically are ..... Click the link for more information. . |
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Microfinancing models used in development contexts could be used in this instance, with small start-up operations. During the year, many conferences and gatherings are also taking place worldwide to cultivate understanding, mobilize people to support microcredits and draw support from financial establishments that have not tapped into the enormous possibilities of microfinancing. This includes working with institutions like FINCA International and Mibanco to provide microfinancing for low-income individuals and businesses, and enabling cost-effective funds transfers to support remittance to home countries by guest workers abroad. |
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