Many women in countries especially Africa are in poverty. Most of these citizens make less than a dollar and 25 cents a day. Many people have been looking for a solution, luckily thanks to Muhammad Yunus he created Micro-loans which gives banks the right to give small loans to women to create entrepreneurs. This would help women be more empowered by giving them the right to their own money and not relying on their husbands. This would change society cause it would help the economic growth and better Education, provide more job opportunities, Increase the power of women in the community.
With the help of Micro-loans it would empower the women. By a Woman bringing in her own income it would reduce being dependent on the husband and increase the power of women. According to “Microfinance: empowering female entrepreneurs” it explained when the women have resources of their own and don't have to beg their husbands for money, it changes the family dynamic. Suddenly the Woman in the family is seen as an…show more content… Well according to the article “The Hidden Ways Microfinance Hurts Women” if you do not pay off your loan then the entire community of borrowers will shame you, the bank will pressure you to pay back no matter what situation you are in, and it could screw up future loans. Yes, these are reason why you shouldn't give loans to women but 98% who are given loans pay them off so the micro loans are working and why would you want to cancel the micro-loans for the 2% of people who can't, 98% is much bigger than 2%. Micro-loans are changing the community around President of the World Bank James Wolfensohn said” Education for girls has a catalytic effect on every dimension of development: lower child and maternal mortality rates; increased educational attainment by daughters and sons; higher productivity; and improved environmental management”. This could lead to faster economic growth and better