Microcredit


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Related to Microcredit: Grameen Bank

Microcredit

A form of lending that originated in the 1970s with small loans made to very small enterprises in Bangladesh, called micro-enterprises, with the intention of alleviating high poverty levels. Microfinance institutions (MFIs) issue micro-loans that have higher-than-normal interest rates meant to cover the high costs associated with issuing small loans. Given that the purpose of microcredit is to be a poverty relief mechanism, individuals with low credit scores who lack capital and steady employment are then able to receive loans to develop their enterprises. See: Microfinance

Microcredit

The practice of making loans to extremely poor persons to help them rise from poverty through entrepreneurship. That is, one may make a loan of, say, $25 which gives someone the start-up capital necessary to make something small to sell. Microcredit loans are usually either interest-free or carry interest that does not compound. Additionally they offer flexible repayment plans; generally one is asked to pay anything one can so long as one pays something. Microcredit is most common in the developing world; it started in Bangladesh in the 1970s. See also: Grameen Bank, Mohammed Yunus.
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The contractor will be responsible to support the policy of supporting players secured personal microcredit conducted by the fund deposits.
He said that the scheme of Islamic Microcredit Financing would facilitate people by interest free loans for starting small businesses in their respective areas.
That's because microcredit offers thousands of people something they've never had before C a chance to take their future into their own hands, start or expand a home-based business and gain financial independence.
Rashed Maqsood, MD and country officer for the American bank in Bangladesh, said, 'Our expanded partnership with UDDIPAN will allow Citi to offer greater disbursement of microcredit to root level farmers who play a significant role in the development of the country.
The funds provided to PPAF for microcredit are used for on-lending to Partner Organizations (POs).
Dote d'une enveloppe de 44,2 millions de dollars, le projet accompagne trois domaines phares du microcredit, a savoir l'acces aux fonds pour la micro-finance, le developpement de nouveaux produits financiers et l'amelioration de l'efficience operationnelle et de la transparence.
The "Partnerships against Poverty" is the slogan, set by the Microcredit Campaign for the Philippines summit, representing a well-established principle in the strategy of the Arab Gulf Program for Development (AGFUND), which is headed by Prince Talal bin Abdul Aziz, according to an AGFUND statement yesterday.
Key words: Microcredit lending, empowerment, Middle Eastern women
The project, which was initiated by the yzmir Industrialists and Businessmen's Association (yZSyAD) at the end of last year, aims to introduce the microcredit system for female inmates to help them have an easier transition to life outside of prison.
Microcredit programs have expanded rapidly in recent decades in the developing world.
In the wake of the worst famine of Bangladesh of the post-World War era Professor Muhammad Yunus launched a microcredit experiment in 1976 to assist a group of poor, highly indebted households, in Chittagong, Bangladesh.
Nobel laureate and Bangladesh-based microcredit institution Grameen Bank founder Professor Muhammad Yunus believes that the poor are creditworthy.