The two terms, microfinance and micro-credit, are the same in terms of meaning, scope, and application.

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Microfinance is a broader term that encompasses a range of financial services to low-income individuals or those without access to typical banking services, including not only micro-credit (small loans) but also savings accounts, insurance, payment services, and more. Micro-credit specifically refers to the provision of small loans.

The Two Terms, Microfinance and Micro-Credit, Are the Same in Terms