Finance

Question 1

Define micro finance

Answer 1

Small loan of money or product to kickstart a business with the expectation of being paid back
- eg rabbits for resilience
= youth build cages for rabbits, provide food and health care to repay the loan
= allows them to build a farming business breeding, selling and eating animals

Question 2

Effect if debt relief

Answer 2

Promotes development
= more national income available for generating growth
= generate jobs

Question 3

Problem with debt relief

Answer 3

You may end up saving only a small amount of money or actually owing more