Unit 4 - Microfinance - Social Entrepreneurship

Question 1

What is Microfinance?

Answer 1

• type of banking service

Question 2

Who is Microfinance provided to?

Answer 2

• provided to unemployed or low income individuals

Question 3

What does Microfinance aim to do?

Answer 3

• aims to make impoverished people self sustained

Question 4

How is M-Pesa used as a form of Microfinance in Kenya?

Answer 4

• used by farmers to escape poverty
• buy more seed to increase revenue so they produce a tradeable surplus
• can be used to expand farm
• increases amount of capital

Question 5

What is Microcredit?

Answer 5

• the lending of small amounts of money at low interest rates
• usually to businesses or poor individuals in the developing world

Question 6

How many women gain access to Microcredit worldwide?

Answer 6

• had reached over 79 million of the poorest women in the world by the end of 2006

Question 7

How is the Kudumbashree Mission helping women to improve their quality of life?

Answer 7

• one of the largest women-empowerment projects in the country
• to encourage women to attend group discussions, improve their reading habits, debating skills and also to develop decision making qualities
• has around 5 million members
• more than 90% of women in Kerala have gained self-confidence after being associated with Kudumbashree
• Kudumbashree forms small groups of economically backward women and provides them with a mix of microfinance, state support and dynamic community action

Question 8

What is Microfinance?

Answer 8

• the lending of small amounts of money at low interest to new businesses in the developing world