Micro Finance is more than making small loans or micro credit as many understand. Micro finance includes:
- Credit,
- Savings,
- Insurance,
- Remittances (some people do not include this) and
- Training/education.
In recent years, micro finance is now evolving into inclusive finance. Inclusive finance includes financial inclusion that focuses on outreach in terms of breadth (number) and depth (poverty). Inclusive finance may include non-financial services that provide more holistic services for the underprivileged people. These non-financial services may include education, energy, agriculture, health and water sanitation, market connection and even counseling and coaching.
Opportunity International Canada team has captured the explanation that I made in February 2012 in a video clip. Please click the link below to watch a short video. - Jeffrey
Click Here to Watch a Video Clip about Micro Finance
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