EMPOWERING THROUGH INCLUSION: EXPLORING THE IMPACT OF MICROFINANCE INSTITUTIONS ON WOMEN'S EMPOWERMENT

Abstract

This research paper examines the relationship between Microfinance Institutions (“MFIs”) and women's empowerment, demonstrating how these companies serve as catalysts for positive change. Beginning with an overview of MFIs, the research paper introduces you to three MFIs analyzed more in-depth: FINCA (Foundation for International Community Assistance), WMI (Women’s Microfinance Initiative), and the World Bank Group. Second, this paper describes the process in which MFIs tackle gender diversity through their primary goal of increasing financial inclusivity. Third, the paper also recognizes the resistance to the MFIs, by describing the reasons for opposition and why people might not be as receptive to such a novel program. Following that, the paper will provide more information on the effectiveness of MFIs on gender development on a larger scale, and then focus on individual case studies to give others a feel of the personal impact these corporations attempt to strive for. Finally, the paper introduces an anecdote to provide a more distinctive perspective of the thought process one might have when approached with the idea of MFIs and their use. In summary, this research paper offers an analysis of the use of MFIs in piloting a new generation of women who successfully utilized micro-credit tools.