Question

What is microfinance, and what are its potential and limitations for reducing poverty and spurring grassroots development? ​

Answer 1

Answer:

Expandion

In 2005 the United Nations declared the year the International Year of Microcredit. At a time when the clamour for financial inclusion was gaining momentum, the declaration brought microfinance from the periphery of finance and offered an estimated 2.5 billion people an opportunity to “grow thriving businesses and, in turn, provide for their families, leading to strong and flourishing local economies.”