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11. The Social Impact of Microfinance: An Unfinished Challenge

  • 2025
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This chapter explores the multifaceted social impact of microfinance, highlighting its role in promoting economic growth and development. It delves into the historical evolution of microfinance, from its roots in informal financial practices to the establishment of modern microfinance institutions (MFIs). The text examines the economic perspective, discussing how microfinance has provided access to financial services for millions, particularly women, and its potential to stabilize incomes and protect against economic shocks. It also addresses the financial perspective, analyzing the balance between social and financial goals, the development of microfinance products, and the sector's impact on financial inclusion. From a sociological standpoint, the chapter explores how microfinance has influenced gender dynamics and entrepreneurship, particularly in developing countries. The conclusion underscores the mixed outcomes of microfinance, acknowledging its potential to empower individuals while also highlighting its limitations and the need for a balanced approach to achieve sustainable social impact.

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Title
The Social Impact of Microfinance: An Unfinished Challenge
Authors
Cecile Godfroid
Marc Labie
Copyright Year
2025
DOI
https://doi.org/10.1007/978-3-031-99906-2_11
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