Therefore poverty management strategies, such as Microfinance, have been put in place to address the issue of poverty and promote development. Despite criticism, Microfinance has proven to be an effective tool towards promoting development in ‘third world’ countries. Microfinance is the provision of a broad range of financial services such as, deposits, loans, payment services, money transfers and insurance, to poor and low-income households and their microenterprises. It also shares the concept that low-income individuals are capable of lifting themselves out of poverty by being granted the opportunity to sell their products, pay a fair interest rate and use the extra mone... ... middle of paper ... ... goals: a reader’s guide to the millennium project reports and other UN documents. Retrieved January 17, 2010, from http://www.yearofmicrocredit.org/docs/mdgdoc_MN.pdf Imboden, K. (2005, Spring).