Microcredit in Spain

Abstract

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Since its inception in Bangladesh in the late 1970s, microcredit has experienced remarkable global expansion, evolving into a pivotal tool in development financing. Transitioning from a temporary poverty relief measure to a mechanism for eradicating poverty, microcredit entails providing small loans to the most marginalized members of society. These loans enable recipients to establish small businesses, fostering a self-sustaining cycle of income generation and loan repayment. Spain, like many other countries, has witnessed a surge in interest in microcredit, with an increasing number of financial and social institutions engaging in this sector since the early 2000s. The book under discussion aims to conduct a comprehensive analysis of microcredit in Spain, exploring concepts, controversies, disbursement models, and the impact on immigrants. Drawing from various sources including surveys, workshops, and secondary data, the book sheds light on the state of microcredit in Spain, highlighting its role in combating social and financial exclusion. Acknowledging the support of numerous institutions, scholars, and the European Microfinance Network, the authors express gratitude for facilitating research in this vital area, emphasizing the collective effort driving progress in microfinance.