Making sense

Microfinance is… - a win-win proposal - a powerful development tool for poverty reduction - a growth area and new business paradigm - a movement that aims to close the gap between the rich and the poor - a business that makes sense Microfinance has already had a positive impact on the household budgets and quality of life for millions of people in developing countries. But the majority still lack access to financial services that can significantly raise their standard of living and better equip them to manage their lives. Closing the gap between microfinance supply and demand, the independent financial consultant Naoko Felder-Kuzu directed her book especially at the financial service providers. In the first part she gives a very personal report about her microfinance experiences, using real cases to illustrate how microfinance can work. The second part is an analytical overview of the financial service providers. The book gives a simple description of microfinance basics and provides suggestions on how to become involved in the microfinance revolution. With regard to the increasing importance of microfinance and microfinance investments the United Nations designated the year 2005 as the International Year of Microcredit. „One of the goals of the International Year of Microcredit is to improve statistics on the nature and scale of the penetration of microfinance. But the essential goal is to strengthen and spread the availability of good financial services, which offer the possibility and the hope to many poor people of improving their own situations through their own efforts.“ Stanley Fischer, Vice Chair of Citigroup, Chair Advisors Group for the International Year of Microcredit 2005