🫂What is the Social Impact of Microfinance?

Microfinance is a financial service provided to individuals who are unemployed or have low incomes and lack access to financial resources. The microcredit support provided by the Turkey Grameen Microfinance Program (TGMP), which has transformed the lives of over 200,000 impoverished women, has reached 1.36 billion Turkish Lira (TL)(6). Among the more than 10,000 microfinance institutions worldwide, TGMP boasts a repayment rate of 100%(7). This repayment rate is at a level that commercial banks cannot compete with.

Furthermore, according to the Microcredit Social Impact Analysis conducted in 2020, TGMP has a 4-to-1 impact for every 1 TL invested. In this context, in 2020, by distributing 143,688,169 TL in microcredit to 36,799 micro-entrepreneurs, a value of 581,937,084 TL was generated.

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5 TGMP, operating in 65 provinces and 95 branches across Turkey, is one of the largest microfinance institutions in the Middle East and North Africa (MENA) region and also serves as a field partner of the Grameen Trust. In addition to providing credit to women facing financial challenges, TGMP offers savings and microinsurance services.

6 http://www.tisva.net/eyayin/tgmp_bilgi_notu_tr.html

7 Click to access TGMP's PAR Report.