FACTORS OF MICROFINANCE ON WOMEN EMPOWERMENT: A COMPREHENSIVE STUDY

Abstract

Microfinance, the provision of financial services to low-income individuals who lack access to conventional banking, has emerged as a pivotal tool for women’s empowerment, particularly in developing countries. This paper explores the diverse factors through which microfinance influences women’s empowerment, delving into economic, social, and psychological dimensions. By reviewing empirical data and case studies, we seek to understand the mechanisms that drive empowerment and highlight the conditions under which microfinance is most effective.