This article has multiple issues. The terms have evolved – from micro-credit to micro-finance, and history of microfinance bank in nigeria pdf ‘financial inclusion’.
Critics often point to some of the ills of micro-credit that can create indebtedness. Due to diverse contexts in which microfinance operates, and the broad range of microfinance services, it is neither possible nor wise to have a generalized view of impacts Microfinance may create. Many studies have tried to assess its impacts. Proponents often claim that microfinance lifts people out of poverty, but the evidence is mixed. Financial needs and financial services.