Priscilla Wakefield: Tottenham activist
Priscilla Wakefield: Tottenham activist
  • Priscilla Wakefield
    • Life and times
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  • Economist
    • Female Benefit Club
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    • Account of Savings Bank
    • Financial inclusion heroine
    • Microfinance >
      • Finding out more
      • Books on microfinance
  • Educationalist
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      • A Tale of Stadium-led Regeneration
      • Taxpayers Against Poverty
      • Wards Corner: shop locally
    • Quaker: New Economy
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  • Resources
    • Priscilla's books
    • Priscilla Wakefield banner
    • Who we are
  • Priscilla Wakefield
    • Life and times
    • Family >
      • Next generation
    • Declining health
    • Memorial
    • Where she lived
  • Economist
    • Female Benefit Club
    • First Savings Bank
    • Account of Savings Bank
    • Financial inclusion heroine
    • Microfinance >
      • Finding out more
      • Books on microfinance
  • Educationalist
    • Supporter of Girls Education
  • Writer
  • Women
    • Lying-in charity
    • Women in Tottenham's past
  • Activism Now
    • Tottenham Today >
      • Breadline London
      • Friends of Parks
      • Living under One Sun
      • Marcus Garvey Library
      • Quaker Garden
      • StART Housing
      • Stop the HDV
      • A Tale of Stadium-led Regeneration
      • Taxpayers Against Poverty
      • Wards Corner: shop locally
    • Quaker: New Economy
    • Quaker: Sustainability
  • Resources
    • Priscilla's books
    • Priscilla Wakefield banner
    • Who we are
Learning about Microfinance
Defining microfinance
There are no easy answers but these two definitions were suggested by David Roodman in 2010:
  • The business-like provision of financial services to the poor.
  • Provision of financial services to the poor in ways that depend on outsiders, especially socially motivated ones, for finance and advice.
What is microfinance David Roodman CGDEV

What is Microfinance? How Does it Relate to Financial Inclusion?
Microfinance is the provision of financial services to low-income people.

The definition of microfinance, which has its roots in microcredit, has evolved in recent decades. In the 1970s, social innovators from the Global South introduced the concept that small amounts of short-term capital (microcredit) can help poor people in the informal economy engage in productive activities and grow their way out of poverty. The early success of microcredit demonstrated that poor families in the informal economy are valuable customers and that it is possible to serve them in large numbers in a sustainable way.

Over the past few decades, we learned that poor households need access to the full range of financial services to generate income, build assets, smooth consumption, and manage risks—financial services that a more limited microcredit model cannot provide. Now the term “microfinance” generally refers to a broad set of financial services tailored to fit the needs of poor individuals.

The global financial inclusion agenda recognizes these broader needs. It also recognizes the importance of financial literacy, building consumer financial capabilities, and for consumer protection policies that take the conditions and constraints of poor families in the informal economy into account.

What is Microfinance? CGAP

Articles, blogs, books and other resources:

The Poor and their Money: an essay about financial services for poor people, Stuart Rutherford, Institute for Development Policy and Management, University of Manchester, 1999
The essay is about how a better understanding of financial services for the poor can lead to better provision of such services.



Blogs
European Finance Platform: Networking with the South
The European Microfinance Platform (e-MFP) with over 130 members is the leading network of European organisations and individuals active in the microfinance/financial inclusion sector in developing countries.

Women's World Banking
Posts include Women’s World Banking hosted Twitter chat on 16 May: We All Win When She Saves#SheCountsChat

CGAP (Consultative Group to Assist the Poor)
develops innovative solutions through practical research and active engagement with financial service providers, policy makers, and funders to enable approaches at scale.

Grameen Foundation Our Insights blog: sharing lessons learned from leaders in the field









Organisations:

Women's World Banking: provides strategic support, technical assistance and information to a global network that seek to advance financial inclusion.

CGAP: Advancing financial inclusion to improve the lives of the poor.  CGAP has an extensive searchable online library.

Grameen Foundation: Empowers the poor, especially women, to end poverty and hunger.

WSBI: supports International efforts ​to advance financial access and financial usage for everyone.​

Centre for Global Development: Independent research and practical ideas for global prosperity

Center for Financial Inclusion: action-oriented think tank dedicated to enabling 3 billion people who are left out of – or poorly served by – the financial sector to improve their lives.

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Picture

Contact: PWForgottenHeroine@gmail.com

Follow: Priscilla Wakefield on Twitter @TottenhamQuaker