Study says micro-loans fight poverty

A new study commissioned by Research on Poverty Alleviation (Repoa) reveals that Tanzania`s microfinance institutions (MFIs) are sensibly fighting poverty by creating more real incomes to borrowers as well as expanding businesses.

Titled `The contribution of Microfinance Institutions (MFIs) to Poverty Reduction in Tanzania`, study claims that the services provided by the microfinance institutions have to a ``greater extent`` helped the poor gain access to operating capital.

It tersely tell that MFIs have played an important role in increasing people`s consumption, helped them manage their risks better, and then gradually building their assets up to the level of becoming micro-entrepreneurs.

As a result of MFIs performance and constructive intervention, poor people`s income earning capacities have been enhanced thereby boosting the living standards, according to findings.

Specialists who undertook the study were Severine S. A. Kessy and Fratern M. Urio, their aim being to examine the extent to which the MFIs are contributing to poverty reduction n Tanzania.

However, in spite their positive contribution to the national economy, study faults their over-concentration in urban areas.

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