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The Prevention of Debt Bondage with Microfinance-led Services  Image

Promoting Inclusive Markets and Financial Systems

The Prevention of Debt Bondage with Microfinance-led Services

The Prevention of Debt Bondage with Microfinance-led Services

Summary

Millions of the poorest and most vulnerable workers in South Asia are bonded to their employers as they strive, often in vain, to repay loans. The root causes of this bondage include: interlinked and monopolistic labour and credit markets, deeply entrenched social exclusion, and asymmetric information particularly regarding legal rights. The International  Labour Organization, together with its social partners and other relevant stakeholders, is currently pilot testing microfinance-led prevention strategies in India, Pakistan, Nepal and  Bangladesh. This paper describes this initiative and summarises the early findings of this effort.



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