Microcredit
 Photo source | “My experience working in the Grameen Bank has
given me faith; an unshakable faith in the creativity of human beings.
It leads me to believe that humans are not born to suffer the misery of
hunger and poverty. They suffer now as they did in the past because we
turn our heads away from this issue.” -Muhammad Yunus |
Definition Microcredit is the extension of very small loans
(microloans) to the unemployed, to poor entrepreneurs and to others
living in poverty who are not bankable. These individuals lack
collateral, steady employment and a verifiable credit history and
therefore cannot meet even the most minimum qualifications to gain
access to traditional credit. Microcredit is a part of microfinance,
which is the provision of financial services to the very poor; apart
from loans, it includes savings, microinsurance and other financial
innovations. The intention of microcredit institutions is to help poor
people, and those denied access to credit, to overcome poverty and to
fund income-generating activities for self-employment in order to build
social capital.Keywords
microcredit, microlending, microfinance, access to capital,
collateral, credit as a human right, poverty reduction, financial
sustainability, financial empowerment, economic independence, social
capital, business, economics, credit societies, debt, credit union,
Grameen Bank | |
|
|
|
|
Comments (1 – 4 of 4)
|
Flag comment for removal ccesetti 6 months ago
Pour
la première
fois sur
Paris, un atelier
entièrement
dédié aux monnaies libres.
Plus
d’informations sur WiserEarth
Notre
futur se construit aujourd’hui…
|
|
“Hello!”
I read your information with great interest… This is a global problem for SO many GOOD people.
No matter where we live, lone heads of household, especially women, are suffering terribly as the financial institutions give no consideration for proposals which are of merit, because the person who has the innovative idea has no money.
It was what drove me to form Global Ark Projects in the first place… I couldn’t get a single bean to help me – from anywhere!
My founding officers are friends who, like me, are lone parents, self-employed, no maintenance, living in unaffordable housing – etc. Most of us are women.
Congratulations on listing so many positive solutions to a problem which has faced so many of us for centuries!! 😀
I will be back to look through all your information as soon as I can.
Thank you for being.
Linda.
|
|
Hi Colleagues, There is a local women’s organization based in Ibadan involved in assisting the poor rural women in giving them soft loans to help facilitate their petty businesses. The actvitities of this women’s group is becoming so pronounced and benefitial to the extent that there are other groups of poor women who are also asking for for micro-credit assistance from Women’s Rights Action Group (WRAG) — that is the name of the dynamic women’s NGO.
Could Grameen foundation come to the aid of WRAG? Their contact address: Plot 5 Akingbade Street, Off Old Ife Road, New Gbagi Area, Box 15060, Agodi post office, Ibadan Nigeria The Contact person: Deborah Salami [email protected]
We shall be grateful for any assistance that could be rendered.
|
|
A recent interview with Muhammad Yunus on Democracy Now!: http://www.democracynow.org/2008/2/12/nobel_laureate_and_banker_to_the
|
Share this page
