The Role Of Microfinance As A Tool For Tackle Poverty

There are many great minds in the history of our species. Instead of minding daily chores and groceries, they utilized their above-standard intelligence to deal with biggest issues human beings ever encountered. Poverty is among those ultimate problems. What exactly is poverty, however, no common belief had been made among scholars or countries. Generally speaking, poverty indicates a status that having low income and by which leads to low consumption and welfare level. When judging poverty from the income standpoint, if a individual has the means, usually refers to capital income, to a better life is measured. Other scholars prefer to look at this issue from the angle of the purpose of life. In different societies, same absolute income level may lead to completely different levels of economic freedom. No matter how this matter is viewed, the goal stay the same: to get people out of poverty and a change to chase a better life for themselves. The use of microfinance as a tool to tackle poverty can be dated all the way back to the 19th century when some scholars and economists talked about encouraging entrepreneurs and farmers to take small credits in order to get out of poverty. The Microfinance model we use today got it root from the Grameen Bank created by Dr. Muhammad Yunus from Bangladesh. When he returned home from the United States with his PhD in economics, he found out that established organizations like the World Bank is not doing a good enough job helping poorShow MoreRelatedBreaking the Cycle of Poverty: Micro-Loans3017 Words   |  13 PagesMany countries in the world have a concerning percentage of poverty in which both food and financial sources are disturbingly limited. Most of the world’s poor have suffered from the deficits of using financial services. Because of a bad credit history or a lack of proof of employment, financial services are most often not accessible for the low income client market . 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Table of Contents†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 1 List of Figures†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 PART I A. BACKGROUNDRead MorePhilippines Anti-Poverty Program Through Peoples Participation9101 Words   |  37 PagesPHILIPPINES ANTI-POVERTY PROGRAM THROUGH PARTICIPATORY PLANNING Submitted to the Faculty of the Graduate School University of St. La Salle Bacolod City In Partial Fulfillment of the Requirements In: Rural Development Management Professor: Dr. Enrique Paderes, PhD. Greg C. Villanueva 2010 TABLE OF CONTENTS Page No. Title Page †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.... 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