Who does microfinance serve?
Today there are approximately 100 million microfinance clients. The vast majority of microfinance clients are women that use the improved financial condition for the benefit of their families. It is estimated that 500 million individuals currently benefit from microfinance programs. Studies of the worlds poor and the impact of microfinance have used differing terminology to describe the clients being served. In general microfinance has reached the moderately poor (people just below the poverty line) and the extreme poor, but not the truly destitute. Data collected and reported by the Microcredit Summit shows that two-thirds of the clients fall far below the poverty line or live on less that $1 per day. One of the strengths of microfinance is that it leverages the skills and abilities that clients already have. Not all of the poor are in position to benefit from microfinance services, however there are a great many more that can.
