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As per World Bank estimate, 7000 MicroFinance Institutes serving 16 million poor people with approximate total turnover for MFI's estimated $2.5 $7 billion (2007). Repayment rates of micro finance are almost 97%, substantially higher than the normal commercial finance. US$ 21.6 Billion still needed to provide microfinance to 100 million of the world's poorest families. Micro Finance is about financing services to the poor & micro entrepreneurs. There are several definitions of micro finance and plenty of models world wide through which micro financing industry works. Depending upon socioeconomic conditions, political and cultural environment, technical advancement of the country and institutionalizations, numerous methods and mechanisms have been developed across the globe. The book describes various Micro Finance models and institutes working in global MF Industry.
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