ABSTRACT
This chapter explores the globalisation of microfinance as an approach to alleviating poverty, and examines the expressions of microfinance in a particular context – Australia. It also examines how microfinance is one of the many 'new' approaches to community based poverty alleviation that' install the issue of economic performance at the heart of today's social project'. The chapter also explores how one often asserted outcome of microfinance – economic empowerment could be more complexly understood. Microfinance is the provision of small loans, acceptance of small savings deposits, provision of insurance and other financial services such as 'bill-payment and money-transfer facilities, financial literacy training' to which poor people do not readily have access. A turning point in the globalisation of microfinance initiatives occurred in 1997, the year of the MicroCredit Summit. Models, approaches and strategies of microfinance have much to offer in terms of addressing certain issues of poverty in both the global South, and the global North.
