Pol Econ of Microfinance
The lack of access of rural and urban poor to credit facilities in many parts of the developing world has meant the rapid proliferation of microfinance institutions in the last thirty to forty years. Spurred by an international movement of large institutions such as the World Bank, non-governmental organizations, government donors, foundations and private investors, microfinance promised to be a solution to the poor's lack of access to credit and consequently, an indispensable tool for poverty alleviation in the developing world.