A little money goes a long way – microfinance
The article below from the BBC website looks at the issue of microfinance – the provision of very small loans as a form of development assistance to help people in developing countries to support themselves and develop their businesses.
Small loans to women make big changes BBC News Online (21/8/07)
Questions
| 1. | Explain what is meant by microfinancing. |
| 2. | Examine the reasons why microfinancing is considered more effective at promoting economic development (as opposed to economic growth). |
| 3. | Assess the extent to which microfinancing could help in other developing countries to promote economic development. |