Effect of microfinance on poverty reduction and economic growth of developing economies

Abstract

The aim of this research is to assess the impact of BRAC microfinance on poverty reduction and economic growth in the union council. In developing countries like Uganda, Rwanda, Tanzania, Sierra Leone, Bangladesh, Pakistan, and Afghanistan. There are about 1.3 billion people living in abject poverty due to the o economic crisis. The stands tend to investigate the influence of small sums of money on poverty reduction. The findings would provide insights into how microfinance contributes to economic condition reduction, and economic growth at the village level in developing countries, particularly for female contributors. The methodology of this study is based on a secondary method, data were obtained from various sources: books, journals, websites, and newspapers covering elements of micro- finance, poverty reduction, and economic growth.