The Big Truth About Microfinance.

Microfinance, the practice of providing small loans to poor women, gained popularity in the early 2000s as a way to alleviate poverty and empower marginalized groups. Muhammad Yunus, the founder of Grameen Bank, was a key figure in promoting microfinance and received the Nobel Peace Prize for his efforts. However, the article reveals that microfinance is still prevalent in Sierra Leone, where women can be imprisoned for failing to repay their loans. While some women have found success through microfinance, many struggle with high interest rates and small loan amounts that hinder business growth. The article explores the origins of microfinance and its impact on borrowers' lives, highlighting both its potential benefits and limitations. [Extracted from the article]