A. The proliferation of microfinance institutions (MFIs) over the past three decades has been widely heralded as a transformative force for poverty alleviation and economic empowerment, particularly for women in the developing world. The fundamental premise is deceptively simple: provide small, collateral-free loans to individuals, typically women, who are excluded from the formal banking sector. This injection of capital is intended to enable them to start or expand small-scale enterprises, thereby generating income, accumulating assets, and enhancing their economic and social standing. However, a growing body of research suggests that while microfinance can be a crucial first step, its efficacy in genuinely empowering women entrepreneurs is often circumscribed by entrenched socio-cultural and structural barriers that capital alone cannot dismantle. B. At its core, the theory behind micro-lending to women rests on several key assumptions. It is posited that access to financial resources will directly translate into entrepreneurial activity. Proponents, famously exemplified by the Grameen Bank in Bangladesh, argue that women are more reliable borrowers, more likely to invest profi…
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