ACCION International Essay Example | Topics and Well Written Essays - 250 words

ACCION International - Essay Example These initiatives aimed at improving economic growth in the places that had been affected by acute poverty. This article will provide a general opinion regarding the readings concerning the economic performance. This organization provided financial services in the form of loans and business training to enable the poor individuals to sustain a decent lifestyle. In both cases, they have developed microfinance institutions that are able to achieve several financial factors (Chu 5). This enables them to attain a significant scale in the market. All contributions made were directed to the economic development of the poor countries. Therefore, they used two methodologies to develop commercial microfinance institutions. The first method involved performing a transformation of the Non-Governmental Organizations to microfinance institutions. The second priority was based on creating equity funds, which will enable to provide a capital base for the microfinance institutions (Chu 9). The Non-Governmental Institutions could also be transformed into financial institutions to manage the economic crisis. In conclusion, this will enhance partnership in most commercial banks and maintain a strong leadership position in the microfinance industry. Furthermore, the transformation will entail the development of certain methodologies that enable the microfinance institutions to serve individuals from the low-income population. This will substantially boost the outreach of the microfinance segment in the society (Chu 17).