Micro-Finance and Its Impacts on People and Societies

Abstract

Microfinance origin has started in 1976 by Muhammad Yunus, it has positive impacts on poor and societies. In this article we have briefly described the microfinance and its impacts on people and society. We have also explained the Grameen Bank Model, the main purpose of the article is to provide the awareness about the microfinance, and how it can be helpful in well-being of the society and poverty reduction. In this first section we have describe the history of microfinance and Grameen Bank, next we have explained the impacts of microfinance, and in the last section we have discussed conclusion and suggestions.

Keywords: Microfinance, Grameen Bank, poverty alleviation, women empowerment, economic growth