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See More Providing microcredit to the poor has become an important antipoverty scheme in many countries.
In Bangladesh, these programs reach about 5 million poor households.
One EU microcredit programme illustrates its work by showcasing a lady who used a EUR 25k loan to set up a dance school in her community.
Núria Ventura's Escuela de Danza in Barcelona was started in 2007 with EUR 25,000 from Spanish microlender Micro Bank (Picture: EIF) A key characteristic of microcredit lenders is that, unlike most commercial banks, around two thirds have mission statements that mention social impact, the promotion of SMEs or job creation.
Moreover, the book uses extensive household survey data to address how the gender of participants affects the impact of microcredit programs.
The EU has been running programmes to develop microcredits since 2003, typically providing funding and loan guarantees to qualifying microcredit providers as well as technical support.
This books attempts to find out whether these programs cost-effective, drawing on the experiences of the well-known microcredit programs of Bangladesh's Grameen Bank, the Rural Development-12 projects, and the Bangladesh Rural Advancement Committee.
It examines the cost-effectiveness of microcredit programs vis-�vis other antipoverty programs, such as Food-for-Work. Fighting poverty with microcredit : experience in Bangladesh (English).
After several years, these programs are gathering some momentum: according to the most recent survey of the European Microfinance Network (EMN), there were 150 microcredit providers in 24 European countries (including 20 EU member states and Serbia, Macedonia and Bosnia-Herzegovina, which have large microfinance sectors) in 2012/2013.
The lenders are mainly non-bank financial institutions such as coops and credit unions, NGOs and foundations.