NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, January 21, 2014

“Poverty is a condition where the people are unable to meet the basic necessities of food, clothing and shelter. In their analysis the group identified that income poverty is very crucial – lack of access to resources, lack of social capital, problem of decision making capabilities and taking responsibility are the main barriers that were identified. Microfinance institutions need to address these issues in such instances. The argument of microfinance is that by providing access to easy and flexible financial services the poor can make use of micro advices which would lead to economic empowerment,” Dr. Herath presenting his paper on the Pathfinder Foundation led study on the effects of microfinance in the conflict-affected communities in Sri Lanka stated.