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Achieving the Microcredit Summit and Millennium Development Goals of Reducing Extreme Poverty: What is the Cutting Edge on Cost-Effectively Measuring Movement across the $1/Day Threshold?
by Thierry van Bastelaer, Manfred Zeller in 2006
Community of Practice: Financial Services
It is widely acknowledged that the majority of the world’s population, mostly people in the developing world who live on less than $1 per day, do not have access to formal financial services. A recent World Bank study concluded that more than half of the poverty level reductions for poor clients in three Bangladeshi microfinance institutions (MFIs) could be directly attributed to microfinance. Its impact was greater on extreme poverty than on moderate poverty.