Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/23685 
Year of Publication: 
1999
Series/Report no.: 
Working Paper No. 1999,11
Publisher: 
Universität zu Köln, Arbeitsstelle für Entwicklungsländerforschung (AEF), Köln
Abstract: 
Microfinance comprises microsavings, microcredit and other financial services such as microinsurance and microleasing. Small amounts of savings are col-lected: daily, weekly, at market days, after harvests or irregularly. They are then transformed into microloans which are repaid in microinstalments: this is micro-credit. I call any institution that provides such microfinancial services a microfi-nance institution. This includes financial self-help groups, savings and credit co-operatives, rural banks, branches of Agricultural Development Banks and some commercial banks, furthermore moneylenders, deposit collectors, credit NGOs and rotating savings and credit associations. A small number of them is donor-supported. Sustainable rural financial institutions are a prerequisite of sustain-able rural development in any country and any region.
Document Type: 
Working Paper

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