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Relationship Between Micro Finance Bank’s Activities and Economic Development in Nigeria

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– Relationship Between Micro Finance Bank’s Activities and Economic Development in Nigeria –

Download Relationship Between Micro Finance Bank’s Activities and Economic Development in Nigeria. Students who are writing their projects can get this material to aid their research work.

Introduction

1.1 Background of the Study

The World Bank devoted the “World Development Report 2000/2001: Attacking Poverty”, to the subject based on new evidences and a deeper understanding of the meaning and causes of poverty. The report argued that major reductions in world poverty are possible.

It shows that economic development continues to be central to success in reducing poverty, but that poverty is also an outcome of economic, social and political processes that interact with and reinforce each other in ways that can ease or exacerbate the state of deprivation in which poor people live.

Consequently, the report concluded that to conquer poverty requires actions at the local, national and global levels; to expand poor people’s opportunities, empower them and increase their security.

Empowerment of the poor becomes a major issue and using microfinance as a major strategy of poverty reduction becomes imperative in an effort to enhance financial inclusion goal of the government and to drastically improve access to financial products and services.

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