Global Microfinance Industry Market Trends, Size, Forecast - 2019-2025
Microfinance is an arrangement to credit the small loan amount to people having little or no income so that they can create their own livelihood. Microfinance industries also include other services such as savings accounts, training, health services, and networking. The microfinance industry mostly works in developing and emerging countries such as Bangladesh, India, Brazil, and Colombia. Generally, repayment rates in the microfinance industry are higher as compared to conventional buyers. It is due to a system of peer support that is used in many microcredit models and borrowers are responsible for each other. Before the pandemic, government initiatives, increasing foreign investment in the emerging economies, growth in small and medium enterprises are some of the major drivers for the microfinance industry. Moreover, rising potential toward household living and maintaining social living in rural areas is also augmenting the market.
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The COVID-19 pandemic has created a temporary as well as long time impact on the microfinance industry. In many emerging economies, lockdown for weeks has been announced by the government to prevent the spread of the COVID-19. Countries such as India, Bangladesh, Colombia, and others are under lockdown for weeks due to which regular operation related to microfinance is halted. Moreover, global investors have withdrawn huge investments from emerging economies due to the downfall in the stock market, which is creating credit and liquidity problems in those economies. Moreover, due to coronavirus, a downfall in global GDP in 2020 is projected, which is also going to affect the microfinance industry in a negative way.
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Global Microfinance Industry Market
By Verticals Affected Most
Group and Individual Micro Credit
Insurance
Leasing
Micro investment Funds
Savings and Checking Accounts
Others
Regional Analysis
North America
United States
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East Africa
Company Profiles
Adie
Bancamía S.A.
Banco do Nordeste do Brasil SA
Bandhan Bank Ltd.
Bangladesh Rural Advancement Committee (BRAC)
PT Bank Rakyat Indonesia Tbk
CreditAccess Grameen Ltd.
Grameen Bank
Kiva Microfunds
Qredits Microfinanciering Nederland
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