Microfinance and microcredit

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Microfinance and microcreditEconomy, sometimes, makes big changes from little steps. Microfinance and microcredit probably are a bigger change in economic system from industrial revolution.

Today for a lot of people that can not access to classical loans and credit source, new and unexpected opportunity are opened through microcredit and microfinance.

Concept is simple. On website of “Microcredit Summit Campaign” microcredit is explained so:

“Microcredit is the extension of small loans and other financial services (such as savings accounts) to the very poor. This allows them to pursue entrepreneurial projects that generate extra income, thus helping them to better provide for themselves and their families.” (link)

Microcredit Summit Campaign

On this website (microcreditsummit.org) you can find a lot of informations about international action plans, and documents and analysis of microcredit situation in the world.

Consultative Group to Assist the Poor

Consultative Group to Assist the Poor (CGAP) is an independent studies center based in Washington D.C. and Paris. Is a good start point for understand and delve in microfinance, microcredit and microloans: www.cgap.org

More in general, microfinance is supply of financial services provided to low-income clients who traditionally have not access to banking and credit services.

A CGAP project is Microfinance Gateway, is the most comprehensive online resource for the global microfinance community:  www.microfinancegateway.org

Microfinance gateway

For a complete and organized overview of best resources on microfinance visit the dedicated page on Dmoz.org.

See also Wikipedia page about Microcredit: en.wikipedia.org/wiki/Microcredit

Microfinance on Wikipedia: en.wikipedia.org/wiki/Microfinance