The Micro Finance Companies have been helping out many poor and needy people with the necessary financial help. As a result of the monetary assistance provided by the micro finance companies many underprivileged individuals have been able to realize their dreams.
The micro finance companies are placing a lot of stress on micro enterprises, household enterprises as well as self-employment programs. These activities are considered to be extremely important with regard to socio-economic progress of a country.
Consultative Group to Assist the Poor and ELDIS have introduced The Microfinance Gateway, which aims to provide technological solutions that can facilitate the provision of micro finance services. They try to help the various non-governmental organizations and the donors to gain information about the various issues regarding micro finance.
Some of the micro finance companies are now providing valuable information about the different aspects of micro finance, the basic aim being to build up awareness about this phenomenon. The Virtual Library on Microcredit is doing some excellent work in this regard.
The CGAP or the Consultative Group to Assist the Poor are primarily a group of donors whose common motto is to address the crisis of poverty by supporting and running programs on micro finance. They have created a website to provide people with education on this issue as well.
Appui au Developpement Autonome or ADA is based in Luxembourg and basically a non-profit institution that deals in micro finance. The company basically provides a combination of monetary assistance and technological support.
The Asian Development Bank has been a leader in the field of micro finance. They have come up with plans to help with the provision of micro finance by the formal as well as the semi formal sources.
They are emphasizing on the following fields:
Improvement of the Bank’s Own Capacity in Micro finance Assistance
Enabling Policy Environment
Building of Viable Institutions
Development of Financial Infrastructure
Last Updated on : 1st August 2013