Developing a microfinance model to break the cycle of poverty

Peter Garrity and Christopher Martin

Business Horizons, 2018, vol. 61, issue 6, 937-947

Abstract: Multigenerational poverty is common in developing countries. Illiteracy, poor health, and unemployment compound a person’s ability to break the cycle of poverty. In this article, we break down the process of designing, testing, and implementing a microfinance model to help end multigenerational poverty in an impoverished refugee village in Uganda. We describe key decisions in developing the model and assess its effectiveness as an instrument in achieving this service objective. We believe our grassroots primary research can benefit many NGOs that might be contemplating lending programs in developing nations, as well as other collegiate institutions interested in implementing sustainable programs that allow students the opportunity to work on global issues in developing nations.

Keywords: Microfinance; Informal economy; Student engagement; Social impact; Entrepreneurship; Developing nations (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:61:y:2018:i:6:p:937-947

DOI: 10.1016/j.bushor.2018.07.002

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