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Overview
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Read This Document
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Meet The Authors
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Papers by Same Organization
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Microfinance has a positive impact on the first Millennium Development Goal, that the number of people living in extreme poverty (defined as those living on less than US$1 per day) will be reduced by half between 1990 and 2015, and showed some evidences of positive impact of microfinance in different countries. Some limitation of microfinance to reach the MDG targets, however, and the most common of them are: micro loans cannot be easily targeted to reach the poorest and many of them cannot make use of microcredit because they are in no position to undertake an economic activity. Sometimes microfinance couldn’t reach the target poor people by considering portfolio at risks and sustainability. In most of the cases targeting approach of microfinance programme encourages exclusion of the poorest and also the “missing middle”. Some probable strategies for meeting the MDG target of halving global poverty, or provide credit to 175 million poor (or poorest) as the target set by Global Microcredit Summit 2006.
The strategies were to find out:
- ways and means to increase the income of the poor (or the poorest)
- ways and means to meet more of their basic needs
- ways and means to asset transfer, and/or making grants to the poorest
The poorest can benefit directly from programmes like the safety net programmes, or asset transfer or from primary health care and from basic education. It is also found that they can also benefit from microfinance, which is an appropriate tool by which to reach the Millennium Development Goals. There are examples of INAFI member organisations how their programmes contributed directly or indirectly to achieve MDGs. Finally, this paper links INAFI's strategies towards poverty alleviation that is again linked with MDGs. This paper emphasised that INAFI should carry on with the idea that the poorest must be entral to the vision and commitment of microfinance institutions. Only then achieving the Microcredit Summit goals of providing credit to 175 million people by 2015, and MDG goal of halving global poverty by 2015 would possible. GDNet originated |
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Bangladesh
Consultant, International Network of Alternative Financial Institutions Asia (INAFI)
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Research Interests: Food Policy and Food Security, Climate Change, Impact Evaluation, Poverty Reduction, NGOs and Civil Society, Policy Process and Political Systems
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Themes: Domestic Resource Mobilization, Environment and Climate Change, Gender, Governance, Poverty & Inequality |
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| How successful is microfinance in alleviating poverty for the poor? |
| By Islam, S. , 2009 |
| Produced by: International Network of Alternative Financial Institutions Asia (INAFI) |
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| Countries: Bangladesh |
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| Asian countries still lacks people who are willing to launch public action for women’s equality of access to livelihood opportunities |
| By Islam, S., 2007 |
| Produced by: International Network of Alternative Financial Institutions Asia (INAFI) |
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| Themes: Development Finance & Aid Effectiveness, Domestic Resource Mobilization, Education and Training, Environment and Climate Change, Gender, Governance, Health, Information & Communications Technology (ICT), International Affairs, Labor & Social Protections, Law and Rights, Macroeconomics and Economic Growth, Poverty & Inequality, Private Sector Development, Urban Development and the Global South |
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