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Microfinance groups meet to boost industry in Asia

Defend Truth

Microfinance groups meet to boost industry in Asia

Microfinance has helped many a marginal family in southeast Asia. Now a meeting in Sri Lanka by such lending bodies has focused on making this sector even more efficient. Such financing most often helps small women entrepreneurs in Asia’s tens of thousands of rural villages, and the business is growing at a rapid clip. Microfinance helps those who sell fish or vegetables on the side of the road and people such as tailors and those running small textiles concerns. Commercial banks can’t yet reach the majority who live away from Asian cities. The regulation of microfinance in the region prevents people from being ripped off by loan providers who charge usurious rates of interest. Read more: BBC

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