Microfinance Institutions (MFIs)

Microfinance Institutions (MFIs) are organizations that provide small loans, savings accounts, and financial services to people who lack access to traditional banks, often in underserved or low-income communities. Their goal is to promote economic development by enabling entrepreneurs and individuals to start or expand small businesses, improve their homes, or meet other financial needs. MFIs focus on affordable and accessible financial services, helping improve livelihoods and reduce poverty. They play a crucial role in fostering financial inclusion by reaching those typically excluded from formal banking systems.