microfinance

play
noun mi·cro·fi·nance \ ¦mī-krō-¦fī-ˌnan(t)s ; -fə-¦nan(t)s , fī- \

Definition of microfinance

:financial services especially in the form of microloans provided to impoverished individuals and groups in poor and developing regions :the financial activities associated with microcredit
  • Hundreds of millions of dollars are flowing into microfinance from international financial institutions, foundations, governments, and, most important, private investors—who increasingly see microfinance as a potentially profitable business venture.
  • —Karol Boudreaux et al.The Wilson QuarterlyWinter 2008
  • Muhammad Yunus starts lending money to the rural poor in Bangladesh. His Grameen Bank kicks off a worldwide movement in microfinance as lenders start to see poor people, especially women, not as bad credit risks but as profitable customers.
  • —Barbara KiviatTime11 Aug. 2008

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First Known Use of microfinance

1995


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