</titre> While microfinance has sometimes been excessively praised, it is now sometimes overly criticized, particularly for being too commercial. It is thus time to question its legitimacy, and this article aims to contribute to this debate. For this purpose, the authors first present a framework of...

Microfinance is increasingly seen as a major development tool. Its promise to help the poor by providing financial services is seen as the major reason for its support. Nevertheless, its effectiveness on actual poverty reduction is not yet clear and therefore it generates some unresolved ethical...