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Microenterprise
A micro-enterprise (or microenterprise) is generally defined as a small business employing nine people or fewer, and having a balance sheet or turnover less than a certain amount (e.g. €2 million or PhP 3 million). The terms microenterprise and microbusiness have the same meaning, though traditionally when referring to a small business financed by microcredit the term microenterprise is often used. Similarly, when referring to a small, usually legal business that is not financed by microcredit, the term microbusiness (or micro-business) is often used. Internationally, most microenterprises are family businesses employing one or two persons. Most microenterprise owners are primarily interested in earning a living to support themselves and their families. They only grow the business when something in their lives changes and they need to generate a larger income. History of the concept The concepts of micro-enterprise and microfinance were pioneered in 1976 by Nobel Prize recipien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfinance
Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings account, savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance product and services in MFI include: # Savings # Microcredit # Microinsurance # Microleasing and # Fund transfer/remittance. Microfinance services are designed to reach excluded customers, usually low income population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient.Peck Christen, Robert; Rosenberg, Richard; Jayadeva, Veena. ''Financial institutions with a double-bottom line: Implications for the future of microfinance''. CGAP, Occasional Papers series, July 2004, pp. 2–3. ID Ghana is an example of a microfinance institution. Microfinance initially had a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microcredit
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically do not have access to traditional banking services due to a lack of collateral (finance), collateral, steady employment, and a verifiable credit history. The primary aim of microcredit is to support entrepreneurship, facilitate self-employment, and alleviate poverty, particularly in low-income communities The United Nations declared 2005 as the International Year of Microcredit to raise awareness of microfinance as a strategy for poverty reduction and financial inclusion. By the early 2010s, microcredit had expanded significantly across developing countries, with estimates suggesting that more than 200 million people were beneficiaries of microcredit services worldwide. While widely adopted, the effectiveness of microcredit remains debated, with mixed evidence on its long-term impact on poverty alleviation. Despite its widespread adoption, the impact of microcredit on poverty al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Poland
The economy of Poland is an emerging and developing, high-income, industrialized mixed economy that serves as the sixth-largest in the European Union by nominal GDP and fifth-largest by GDP (PPP). Poland boasts the extensive public services characteristic of most developed economies and is one of few countries in Europe to provide no tuition fees for undergraduate and postgraduate education and with universal public healthcare that is free at a point of use. Since 1988, Poland has pursued a policy of economic liberalisation but retained an advanced public welfare system. It ranks 19th worldwide in terms of GDP (PPP), 20th in terms of GDP (nominal), and 21st in the 2023 Economic Complexity Index. Among OECD nations, Poland has a highly efficient and strong social security system; social expenditure stood at roughly 22.7% of GDP. The largest component of Poland's economy is the service sector (62.3%), followed by industry (34.2%) and agriculture (3.5%). Following the economi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entrepreneur
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur () is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business, or (per ''Business Dictionary'') as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit". The people who create these businesses are often referred to as "entrepreneurs". In the field of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third World
The term Third World arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Taiwan, Japan, South Korea, the Southern Cone, NATO, Western European countries and other allies represented the "First World", while the Soviet Union, China, Cuba, North Korea, Vietnam, and their allies represented the "Second World". This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Strictly speaking, "Third World" was a political, rather than economic, grouping. Since most Third World countries were economically poor and non-industrialized, it became a stereotype to refer to developing countries as "third-world countries". In political discourse, the term Third World was often associated with being underdeveloped. China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Banking
A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with wholesale banking to corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks. Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite a common misconception known as the "bank analogy". Unlike commercial banks, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. History The name ''bank'' derives from the Italian word ''banco'' 'desk/bench', used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dominican Republic
The Dominican Republic is a country located on the island of Hispaniola in the Greater Antilles of the Caribbean Sea in the Atlantic Ocean, North Atlantic Ocean. It shares a Maritime boundary, maritime border with Puerto Rico to the east and a Dominican Republic–Haiti border, land border with Haiti to the west, occupying the Geography of the Dominican Republic, eastern five-eighths of Hispaniola which, along with Saint Martin (island), Saint Martin, is one of only two islands in the Caribbean shared by two sovereign states. In the Antilles, the country is the List of Caribbean islands by area, second-largest nation by area after Cuba at and List of Caribbean countries by population, second-largest by population after Haiti with approximately 11.4 million people in 2024, of whom 3.6 million reside in the Greater Santo Domingo, metropolitan area of Santo Domingo, the capital city. The native Taíno people had inhabited Hispaniola prior to European colonization of the America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IFAD Vietnam
IFAD, The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialized agency of the United Nations dedicated to eradicating rural poverty in Vietnam and other developing countries. IFAD supports more than 200 ongoing programmes and projects around the world. IFAD works for and with the poorest people in Vietnam, including ethnic minorities, small-scale farmers and households headed by women. Strategies to reduce poverty and improve living conditions include building partnerships, strengthening institutional capacity and promoting participation. IFAD works with the government and other partners to empower poor rural people so they can have a role in decision-making. To do this, IFAD finances programmes and projects that focus on developing and testing innovative approaches to poverty reduction that can be replicated and scaled up by the government and other agencies. Economic interventionism, Interventions are area-based and mult ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IFAD
The International Fund for Agricultural Development (IFAD) is an international financial institution and a specialised agency of the United Nations that works to address poverty and hunger in rural areas of developing countries. It is the only multilateral development organization that focuses solely on rural economies and food security. IFAD is involved in over 200 projects across nearly 100 countries. It funds and sponsors initiatives that improve land and water management, develop rural infrastructure, train and educate farmers in more efficient technologies, build up resilience against climate change, enhancing market accessibility, and more. IFAD has 180 member states with the Organization of the Petroleum Exporting Countries (OPEC) and members of the Organisation for Economic Co-operation and Development (OECD). As of 2021, since its foundation, IFAD has provided US$23.2 billion in loans and grants and coordinated an addition US$31 billion in international and domestic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uganda
Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The southern part includes a substantial portion of Lake Victoria, shared with Kenya and Tanzania. Uganda is in the African Great Lakes region, lies within the Nile basin, and has a varied equatorial climate. , it has a population of 49.3 million, of whom 8.5 million live in the capital and largest city, Kampala. Uganda is named after the Buganda, Buganda kingdom, which encompasses a large portion of the south, including Kampala, and whose language Luganda is widely spoken; the official language is English. The region was populated by various ethnic groups, before Bantu and Nilotic groups arrived around 3,000 years ago. These groups established influential kingdoms such as the Empire of Kitara. The arrival of Arab trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
