Title : The effect of microfinance on living standard of poor people; A case study of Mingohn Model Village

Authors : Nay Kyar Lin

Publication Date : 2020-08-01

Description : This paper is concerned with the effect of microfinance on living standards in Mingohn model Village. The main objective of this paper is to explore the conditions of living standard of the poor people after obtaining a microfinance loan and to assess the relationship between the living standard and influencing factors on it. The required data is obtained from the respondents who are participating of microfinance institutions in Mingohn model Village. Microfinance institutions (MFIs) operations in Mingohn model Village that does not make significant effect in the standards of living of poor people who access their services. Although some of the clients have benefited, most of clients have not benefited. Finally, Microfinance institutions (MFIs) should restructure their training contents to include improving their client‟s business skills. A sufficient amount of money should be available in the Microfinance institutions (MFIs) for providing loans to users. Repayment of installment amount once in every week should be reviewed by MFIs. Microfinance institutions (MFIs) should pay their increasing attention on the interest rate to make them more convenient for the clients.