microcredit

noun

mi·​cro·​cred·​it ˌmī-krō-ˈkre-dit How to pronounce microcredit (audio)
: credit in the form of microloans provided to impoverished individuals and groups
Grameen pioneered the concept of microcredit, the granting of small loans to people who otherwise would have no access to money to run a business.Sue Halpern

Examples of microcredit in a Sentence

Recent Examples on the Web Today, Hasina is one of microcredit’s most outspoken critics. Charlie Campbell, TIME, 24 June 2024 Muhammad Yunus, who received the 2006 Nobel Peace Prize for pioneering the use of microcredit to alleviate poverty, was convicted in January of violating Bangladesh’s labor laws and sentenced to six months in prison along with three other officials at his telecommunications company. Jennifer Jett, NBC News, 2 Mar. 2024 Yunus, who was awarded the Nobel Peace Prize in 2006 for pioneering the use of microcredit to help impoverished people, was sentenced to six months in prison in January on a separate charge of violating labor laws. Associated Press, Quartz, 3 Mar. 2024 Grameen became famous for pioneering the concept of microcredit, granting loans of under $100 to Bangladesh’s rural poor. Lionel Lim, Fortune Asia, 3 Jan. 2024 Something that’s a little closer to home is going to be related to microcredit decision-making, and discrimination and bias related to that and fraud detection. Richard Vanderford, WSJ, 5 Jan. 2024 Grameen’s success helped pioneer the microcredit model of development. Lionel Lim, Fortune Asia, 3 Jan. 2024 Bona fides: Since 2014 launch, has made more than $2 billion in microloans to six million plus customers Founder and CEO: Shivani Siroya, 39, who founded Tala after studying the impact of microcredit in sub-Saharan and West Africa for the U.N. Eliza Haverstock, Forbes, 8 June 2021 Because microcredit continues to be praised as a development strategy, discerning whether such loans can have positive effects without the bells and whistles that sometimes accompany it is key. Veronique Greenwood, Discover Magazine, 10 June 2011

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'microcredit.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1980, in the meaning defined above

Time Traveler
The first known use of microcredit was in 1980

Dictionary Entries Near microcredit

Cite this Entry

“Microcredit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/microcredit. Accessed 24 Jul. 2024.

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