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explain in an paragraph what is microfinance and how it is different from regular finance ,...

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Accounting


explain in an paragraph what is microfinance and how it isdifferent from regular finance , describe in detail of all thedifferences. how can microfinance help eradicate poverty? Ismicrofinance sustainable? what kind of projects can develop drommicrofinance?

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Answer MicrofinanceMicrofinance is basically providing loans usually in small amount to poor and unemployed individuals who have no access to banking and other financial institutionsIts main purpose is to make poor people an opportunity to become selfsufficientMost of microfinancing operations are prevelant in developing nationsMicroFinance Institutions charge reasonable interest on loans and have a repayment planMany microfinance organizations educate and help    See Answer
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