Ethical Supply Chain Management
Microfinance refers to a range of financial services, including small loans, savings, and insurance, aimed at low-income individuals or those without access to traditional banking systems. It plays a crucial role in empowering underserved communities by providing the necessary resources to start small businesses and improve their quality of life. This form of finance is especially significant in developing economies where conventional banking options are limited or nonexistent, fostering entrepreneurship and self-sufficiency.
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