Can microfinance improve a country's economy?

[Good-Person]

Microfinancing is a really broad field. This involves financing and funding small kinds of business. This gives small investors the opportunity to invest money. So, do you think that micro finance could improve economy?

 

[Yaqoob Habib]

Microfinancing is a really broad field. This involves financing and funding small kinds of business. This gives small investors the opportunity to invest money. So, do you think that micro finance could improve economy?

Of course, if you are living in a country where the poverty of the people is very high, then to fight this problem, you give loans through microfinance banks so that its people You can start a small business by taking a loan and can live on its income and similarly if you If you return it to the bank on time then You will not face any difficulty in taking loan again.

 

[Nomad]

A lot of people, especially low income people, do not have access to major financial services because they do not have fixed assets to give as a collateral for loans. Micro finance solves this problem by giving small loans without collateral. When people can access loan services, they will be able to invest money to generate income. When people generate income, it will ultimately benefit the cpountry./