One lesson from microfinance in countries such as Africa has been that
A)despite its good intentions, monies still tend to be channeled to those in the middle and upper classes.
B)poor borrowers do not make trustworthy clients.
C)women who receive such loans stimulate local economies while addressing gender inequality.
D)bottom-up approaches challenge larger institutions and traditional approaches.
E)microlending is fraught with challenges and unforeseen perils.

Question

Quizplus · Accepted Answer

Studies have shown that women who receive microfinance loans tend to invest the money in their households and communities, creating a multiplier effect that stimulates local economies. Furthermore, microfinance has been recognized as a tool to promote gender equality and empower women, who often have limited access to formal banking services. While microfinance faces challenges and limitations, the positive impact on women and their communities is a key lesson learned.

One Lesson from Microfinance in Countries Such as Africa Has