Recognizing the substantial impact of
micro-finance on poverty alleviation, both
governmental and non-governmental
organizations (NGOs) have been
prioritizing micro-finance schemes. In
June 1998, the Micro-credit Summit tallied
14,808,871 borrowers and the World Bank
chairs a coalition of lenders whose
objective is to extend Micro Credit to 100
million borrowers by the year 2005
(Panjaitan et.al.1999).
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