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Microfinance can help low-income earners

Microfinance is an effective development intervention that enhances access to financial services by low-income earners to ease financial hardships, create job opportunities and improve their standards of living.

Banks often provide loans to big businesses or profit-making organisations and exclude low income earners for fear of incurring losses.

In light of this, the 9th Microfinance Training of Trainers (MFTOT 9) Course, jointly sponsored by the Asian Development Bank Institute (ADBI), World Bank, Tokyo Development Learning Centre (TDLC) and joined by a new partner of China Development Bank (CDB) since MFTOT8 to support participants in African countries, is ongoing, till November this year.

This is an interactive microfinance distance learning course (MFDL) developed by the United Nations Capital Development Fund (UNCDF), the UN’s capital investment agency for the world’s 48 least developed countries. The course has received high rating from participants and become popular in many countries.

“Microfinance is one of the great success stories in the developing world and is widely recognised as a sustainable solution to eradicate poverty. Its services include microcredit to enhance financial inclusion.”

TaGLA organises videoconferences with other DLCs across the world for it has modern facilities for online or videoconference services. So it is possible to access international microfinance experts’ lectures through videoconference sessions at selected Global Development Learning Network (GDLN) centres like TaGLA. The videoconference sessions will feature presentations and discussions on current issues and best practices in microfinance.

The videoconferences will also be webcast live. Local courses in selected countries will be available during the same time period. In Tanzania, low income earners may access financial services such as loans, savings, insurance and training from microfinance institutions or organisations.


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