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Micro Finance
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically do not have access to traditional banking services due to a lack of collateral, steady employment, and a verifiable credit history. The primary aim of microcredit is to support entrepreneurship, facilitate self-employment, and alleviate poverty, particularly in low-income communities The United Nations declared 2005 as the International Year of Microcredit to raise awareness of microfinance as a strategy for poverty reduction and financial inclusion. By the early 2010s, microcredit had expanded significantly across developing countries, with estimates suggesting that more than 200 million people were beneficiaries of microcredit services worldwide. While widely adopted, the effectiveness of microcredit remains debated, with mixed evidence on its long-term impact on poverty alleviation. Despite its widespread adoption, the impact of microcredit on poverty alleviation remains con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Acting as a provider of loans is one of the main activities of financial institutions such as banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Institute For International Development
The Harvard Institute for International Development (HIID) was a think-tank dedicated to helping nations join the global economy, operating between 1974 and 2000. It was a center within Harvard University, United States. Foundation and leadership The Harvard Institute for International Development originated when Harvard University's Center for International Affairs (CFIA) tried to move away from a controversial role in giving advice on topics such as arms control, foreign aid and development. The CFIA preferred a more academic role of teaching and research. The Ford Foundation and other organizations involved in aid-giving still wanted Harvard to provide hands-on training for their staff. In 1962 the Development Advisory Service was established for this purpose, associated with the CFIA but independent. It was renamed the HIID in 1974. In 1980 the economist Arnold Harberger of the Harvard University was selected as head of the institute. The announcement met with protests fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solidarity Lending
Solidarity lending is a lending practice where small groups borrow collectively and group members encourage one another to repay. It is an important building block of microfinance. Operations Solidarity lending takes place through 'solidarity groups'. These groups are a distinctive banking distribution channel used primarily to deliver microcredit to poor people. Solidarity lending lowers the costs to a financial institution related to assessing, managing and collecting loans, and can eliminate the need for collateral. Since there is a fixed cost associated with each loan delivered, a bank that bundles individual loans together and permits a group to manage individual relationships can realize substantial savings in administrative and management costs. In many developing countries the legal system offers little, if any support for the property rights of poor people. Laws related to secured transactions – a cornerstone of Western banking – may also be absent or unenfor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accion International
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, it works with local partners in different countries to develop and scale digital financial solutions for underserved people globally. To date, it has more than 235 financial service providers operating across 75 countries. Accion is headquartered in Cambridge, Massachusetts, and also has offices in Washington, D.C.; Bogotá, Colombia; Mumbai, India; and Beijing, China. Accion works across Latin America and the Caribbean, Africa, the Middle East and Asia. In the U.S., Accion operates a nationwide nonprofit lending network. Background and history 2010–present In 2009 and 2010, Accion helped to start microfinance institutions in underserved areas of Inner Mongolia, Cameroon, and Brazil. In December 2009, Accion inaugurated Accion Microfinance China (AMC) in Chifeng Prefecture, Inner Mongolia; this microfinance institution represented the first wholly owned foreig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accion USA
The Accion U.S. Network is an American nonprofit microfinance organization headquartered in New York, NY. The network is part of Accion International Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, it works with local partners in different countries to develop and scale digital financial solutions for underserved people global ..., a U.S.-based nonprofit organization operating globally. Member Offices In addition to having lending offices in nearly 30 cities, Accion also offers online lending. Its four member offices are: * Accion East (now re-named Ascendus and serving the East Coast) * Accion Chicago * Accion New Mexico · Arizona · Colorado * Accion San Diego (now re-named Accessity and serving all of Southern California) Accion offers micro loans and other financial services to low- and moderate-income entrepreneurs in the United States who are typically unable to access bank credit to start or expa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grameen America
Grameen America is a 501(c)(3) nonprofit microfinance organization based in New York City. It was founded by Nobel Peace Prize recipient Muhammad Yunus in 2008. Grameen America is run by former Avon Chairman and CEO Andrea Jung. The organization provides loans, savings programs, financial education, and credit establishment to women who live in poverty in the United States. All loans must be used to build small businesses. Services Grameen America offers four key products. #Microloans. The maximum first-time loan is $2,500, though borrowers can return for larger loans once they have repaid their initial loan. #Savings program. Grameen America provides no-fee, no minimum balance savings accounts through commercial partner banks. #Credit Establishment. Grameen America helps members build credit by reporting loan repayments directly to Experian and Equifax. #Financial Education. Grameen encourages group mentoring during a five-day initial training and weekly meetings with members. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pro Mujer
Pro Mujer is a nonprofit development organization that provides financial inclusion, health and education programs to low-income women in Latin America. One of the largest women's organizations in the region, Pro Mujer operates in Argentina, Bolivia, Mexico, Nicaragua, Peru and Guatemala with headquarters in New York City. Since its founding in 1990, Pro Mujer has disbursed more than $4 billion in small loans, provided over 10 million health interventions and impacted more than 2 million women across the region. Mission Pro Mujer’s mission is “to empower underserved women to realize their full potential.” In 2017, Pro Mujer turned to a new organizational strategy with a mandate to build a large-scale and sustainable platform that provides relevant and transformative products and services to women throughout their life cycle. Through a focus on alliances and technology, Pro Mujer is expanding its services by entering new areas, including digital literacy, gender-based viole ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Women's World Banking
Women's World Banking is a global nonprofit organization dedicated to women's economic empowerment through financial inclusion. __TOC__ Mission and vision As an NGO, Women's World Banking (WWB) partners with financial institutions and policymakers to design and develop solutions and programs that facilitate systemic change for women. As an investor, WWB Asset Management advances women in the workplace and as customers through direct equity to bring financial security, prosperity and independence to women. History and governance Women's World Banking was born out of an idea conceived during the first United Nations World Conference on Women, held in Mexico City in 1975 to coincide with the International Women's Year and to mark the start of the "UN Decade for Women" (1976–1985). The Mexico City conference was convened by the United Nations General Assembly to focus international attention on the need to develop future-oriented goals, effective strategies, and plans of actio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-governmental Organization
A non-governmental organization (NGO) is an independent, typically nonprofit organization that operates outside government control, though it may get a significant percentage of its funding from government or corporate sources. NGOs often focus on humanitarian or social issues but can also include clubs and associations offering services to members. Some NGOs, like the World Economic Forum, may also act as lobby groups for corporations. Unlike international organizations (IOs), which directly interact with sovereign states and governments, NGOs are independent from them. The term as it is used today was first introduced in Article 71 of the UN Charter, Article 71 of the newly formed United Nations Charter in 1945. While there is no fixed or formal definition for what NGOs are, they are generally defined as nonprofit entities that are independent of governmental influence—although they may receive government funding. According to the United Nations Department of Global Communic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feminization Of Poverty
Feminization of poverty refers to a trend of increasing economic inequality, inequality in living standards between men and women due to the widening gender pay gap, gender gap in poverty. This phenomenon largely links to how women and children are disproportionately represented within the lower socioeconomic status community in comparison to men within the same socioeconomic status. Causes of the feminization of poverty include the structure of family and household, employment, sexual violence, education, climate change, "femonomics" and health. The traditional stereotypes of women remain embedded in many cultures restricting income opportunities and community involvement for many women. Matched with a low foundation income, this can manifest to a cycle of poverty and thus an inter-generational issue. Entrepreneurship is usually perceived as the cure-all solution for deprivation depletion. Advocates assert that it guides to job design, higher earnings, and lower deprivation prices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of cost (production cost). A decrease in cost per unit of output enables an increase in scale that is, increased production with lowered cost. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. Economies of scale arise in a variety of organizational and business situations and at various levels, such as a production, plant or an entire enterprise. When average costs start falling as output increases, then economies of scale occur. Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis. The economic concept dates back to Adam Smith and the idea of obtaining larger production returns thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
