|Group of women making green tie dye|
Microfinance is a development strategy that provides financial services to those without access. In the words of Muhammad Yunus (nobel peace laureate and founder of the first microfinance institution in Bangledesh), “ microcredit ignites the tiny economic engines of the rejected underclass of society. Once a large number of tiny engines start working, the stage can be set for bigger things”. It breaks the long misunderstood notion that the poor cannot repay loans and proves that reaching out to the bottom of the economic ladder can have a significant impact on poverty alleviation, environmental protection and social sustainabity. By supporting the economy from the very bottom, Microfinance is providing opportunity to the poorest of the poor without sacrificing the ecology or cultural attributes of the country.