HUFFPOST | What Collaborative Consumption and the Sharing Economy Can Learn From Microfinance
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Microfinance is the provision of financial products and services to economically active poor people who for a variety of cultural, social, gender-related and other reasons are excluded from the mainstream financial sector, especially in the developing world. The microfinance sector has grown significantly over the past few decades and in 2006 Muhammad Yunus, considered by many to be the father of modern microfinance, was awarded the Nobel Peace Prize for his pioneering work in fostering access to finance as a path towards more peaceful relations.