THE VIABILITY OF MICRO-FINANCE AS AN ECONOMIC STRATEGY AND SOLUTION TO POVERTY IN UNDERDEVLOPED NATIONS Introduction Over the past decade and a half, micro-finance has become one of the most commonly heard buzzwords in the world of investment and philanthropy. In liberal circles, moreover, microfinance is being extolled as one of the most significant innovations in the 21st century fight against poverty in underdeveloped nations. 2006 Nobel Peace Prize winner, Muhammad Yunus, has even gone as far as proclaiming that with microfinance “We will make Bangladesh free from poverty by 2030” as some 5% of people are now being lifted out of poverty each year (Karnani 36; Chowdhury 1). In light of the microfinance revolution and these types of...The end:
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