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    • News
    • Microfinance

    4 tips to implementing effective and efficient microfinance programs

    Despite being in place for more than 20 years, microfinance has yet to achieve its full potential. So how can proponents of the financial service maximize microfinance's impact? A microfinance expert shares his insights.

    By Lean Alfred Santos // 02 September 2014

    Despite being in place for more than 20 years, microfinance has yet to achieve its full potential, some experts suggest.

    Microfinance is being used in a variety of ways — from seed funding social enterprises to achieving social objectives at the community and household level. But this form of financial service should be implemented strategically and effectively by well-informed, highly skilled, socially sensitive microfinance players and development practitioners. Else, microfinance could be “a double-edged sword.”

    “The effective use of money … is fundamental to achieving development objectives. Without affordable credit and accompanying financial services, offered at the right terms and sizes, sustainable long-term economic expansion at a household and community level cannot occur,” Neal Youngquist, World Vision Myanmar’s microfinance program general manager, told Devex.

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      About the author

      • Lean Alfred Santos

        Lean Alfred Santos@DevexLeanAS

        Lean Alfred Santos is a former Devex development reporter focusing on the development community in Asia-Pacific, including major players such as the Asian Development Bank and the Asian Infrastructure Investment Bank. He previously covered Philippine and international business and economic news, sports and politics.

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