Question

How credit plays an important role in development

Answer 1

Heyya!


Role of credit in development : 

1) it creates better facilities for agriculture and industrial activities 

2) moreover, it helps people from all ways of life in setting up business ,increase their earnings and support their family 

3) to some people,loan help a lot in constructing their homes and get rid of monthly rents 

4) to others,loan or credit helps a lot In raising their social status by enabling them to buy cars,scooters,television etc..

Hope it helps!☺️