1. What is a micro credit?
A micro credit is a small loan to people with a low income. The size of the loan may vary from fifteen Euro (in India for example) to a few thousand Euro’s (in Eastern Europe and Latin America). The loan is used for small scale economic activities like small trade, services as bicycle repair and hairdressing, agricultural activities, livestock, bars and restaurants and small scale production.
About Microfinance
- 1. What is a micro credit?
- 2. What is microfinance?
- 3. Why do poor people not go to a traditional bank?
- 4. What is a Micro Finance Institution (MFI)?
- 5. How high are repayment rates?
- 6. Why is some 75% of the clients female?
- 7. Can poor people save?
- 8. Why do MFIs charge high interest rates?
- 9. Does microfinance reach the poorest people?
- 10. How do poor people benefit from microfinance?
- 11. Is microcredit thé magic cure against poverty?