Abstract
This chapter sheds light on the globalization story of microfinance. Focusing on the historical aspect of microfinance as a global development model, this chapter highlights the evolution of microfinance in Bangladesh. The chapter focuses on the history and growth of Grameen Bank model that refers to collateral free small loans that would be assigned to small businesses run by women, so that these women could use these loans to alleviate poverty. Then the chapter also illustrates the global perspective of microfinance which emerged as a constant global effort to address poverty and gender discrimination throughout the world especially in third world countries.
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- 1.
Informal sources are generally money lenders or businessmen who lend money on certain strict conditions and imposes a high interest rate.
- 2.
Tangail is a district (zilla) of Bangladesh which stretches over a total area of about 3,424.39 square kilometres.
- 3.
Adopted in the year 2000 and set to be achieved by 2015, the Millennium Development Goals (MDGs) provided concrete, numerical benchmarks for tackling extreme poverty in its many dimensions.
- 4.
In this theory Frank argued that the poor are treated as peripheral and are exploited by those at the centre.
- 5.
US based NGO.
- 6.
CGAP is a multi-donor institution.
- 7.
UNCFD contributes to the achievement of the MDGs in Developing Countries through a variety of innovative approaches in microfinance.
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Nawaz, F. (2019). Microfinance: It’s Globalization Story. In: Microfinance and Women’s Empowerment in Bangladesh. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-13539-3_2
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DOI: https://doi.org/10.1007/978-3-030-13539-3_2
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