ABSTRACT
The body of work presented in this book provides collective evidence that microcredit, as a subelement of microfinance, continues to make a major contribution to the alleviation of poverty by enhancing entrepreneurship opportunities, raising standards of living in rural and urban areas and therefore improving social and economic development. Over the last 30 to 40 years, microcredit has certainly evolved from its humble origins in small rural areas. The concept of village banking continues to thrive but is now complemented by sustainable microfinance institutions (MFIs), untraditional funding sources, ever-evolving banking technology and junior markets for social responsible entrepreneurs, among other characteristics.
