Question

What is the MOST likely goal of microfinance?

1) To provide loans to the poorest people
2) To start microfinance in rural Bangladesh
3) To help millions of people start their own businesses
4) To improve the economy of developing countries

Answer 1

The most likely goal of microfinance is to help millions of people start their own businesses and improve the economy of developing countries.

Step-by-step explanation:

The MOST likely goal of microfinance is to help millions of people start their own businesses. Microfinance programs provide small loans, also known as microcredit, to individuals who may not have access to traditional banking services. These loans can be used to start or expand small businesses, which can then contribute to economic growth in developing countries.

For example, in rural Bangladesh, microfinance programs have been successful in providing financial resources to women and families to invest in important assets or start businesses. This has led to improvements in health, reduced poverty, and increased opportunities for economic and social empowerment.

Overall, microfinance aims to promote self-sufficiency and entrepreneurship, ultimately improving the economy of developing countries by creating sustainable economic growth and reducing poverty.