The Challenge for Global Women Poverty: Microfinance (or Microcredit) as a Solution for Women Poverty in Turkey

This paper focuses on microfinance as a potential solution for global poverty alleviation. It also examines the Turkish microfinance sector. Poverty is increasing around the world, with the gap between the rich and poor are widening in developed as well as developing nations. The fight against poverty is of interest as a social goal to governments which have dedicated institutions or departments. The study states that microfinance is another means to fight poverty. Microfinance programs targeting women have become a major plank of donor poverty alleviation strategies in the 1990s and funding is set to further increase into the next century. The paper states that:

• Poor people in the developing world need access to microfinance and donors should continue to facilitate this;
• Equity and efficiency arguments for targeting credit to women remain powerful;
• Practitioners and scholars must engage in continuous dialogue, and exchange of knowledge and experience;
• Turkey has a nascent microfinance sector, with insufficient commercial microfinance and programs that are dependent on a few NGOs and external funding;
• Vision, mission, goals, and objectives of microfinance policies and programs must be integrated in order to mainstream gender and empowerment of women.