Microfinance as a Component of a Sustainable Economic Development in Asia
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Abstract
Microfinance is now a buzzword in international aid circles. It is mooted as the panacea for sustainable development in very poor countries and has been successfully implemented in over 40 countries in the world with many different kinds of schemes being managed in Asia. Whether or not microfinance is sustainable without initial aid, ongoing sponsorship for establishment and training costs is debatable. Howver, the improvement of the lives of very poor families in bangladesk has been hailed as an outcome (in part) of the successful access to credit schemes of the Grameen bank. This paper outlines the fundamental issues about the role of microfinance in sustainable economic development in Asian economies.