Pakistan Institute of Development Economics


Microfinance in Times of COVID-19

Date : April 16, 2020 at 03:00 pm
Moderator: Umer Gilani, Advocate High Court
Chair: Dr. Nadeem ul Haq (Vice Chancellor PIDE).

Microfinance is the endowment of small-scale financial products and services to poor individuals and households. The focus is to provide financial services to low-income households to improve their income and standard of living. Low-income households typically have limited access to conventional services provided by mainstream banks and other financial institutions. The professed promise of microfinance is to bridge this gap by reaching out to low-income households and fighting against poverty and vulnerability. Microfinance aims to improve the incumbent standard of living. In our country’s landscape, around 6 million people are now active borrowers under microcredit, and the growth is imposing like 20 percent is grown over the last year.