This paper summarizes the findings of research in Bogota, Colombia and Mexico City on the use of financial services by the urban population. The focus is on the majority of persons who have no relation whatever with a formal bank, cooperative or credit union. The paper identifies the...

The idea of microfinance is well known now around the world. It can develop both in poor countries and in highly developed ones. Microfinance aims to reach two basic goals: to stimulate the borrowers in order to trigger activities that would generate income and to reach social objectives which...