Group lending microfinance program has gained its fame from the
success of many microfinance institutions across the world. Prior
to the microfinance revolution in 1970s, formal lending
institutions vehemently considered that poorer people cannot be
banked and cannot repay a loan lacking collateral to guarantee. One
potential solution to these problems was pioneered during the late
1970s as group lending microfinance, thanks to Nobel laureate
Professor M Yunus at Grameen Bank, Bangladesh. Group lending
induces borrowers to self select their peer, monitor each others
and enforce repayment at the end. Group lending is thus considered
as the key factor behind the high rates of repayment and the
success story of many microfinance institutions. In this book the
mechanism of group lending is examined with theoretical rigour and
justified with empirical evidences. The book is specially suitable
for the professionals in microfinance, NGO personnel, policy
makers, donor agencies and graduate and research students of
economics and finance
General
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