Meaning of the word "microfinance institution" in English
What does "microfinance institution" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
microfinance institution
US /ˈmaɪkroʊfaɪnəns ɪnstɪˈtuːʃən/
UK /ˈmaɪkroʊfaɪnəns ɪnstɪˈtuːʃən/
Noun
1.
an organization that provides financial services, such as small loans, savings, and insurance, to low-income individuals or groups who typically lack access to traditional banking services
Example:
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Many rural communities rely on microfinance institutions for their economic development.
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The microfinance institution offered small loans to women entrepreneurs.
Synonym:
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