Las microfinanzas en el marco de la financiación del desarrollocompatibilidad y/o conflicto entre objetivos sociales y financieros

Zusammenfassung

The thesis studies the financing of development, and the role of microfinance in this field. More specifically, it focuses on possible contradictions associated with the practice of microfinance institutions in some contexts, and the potential conflict between achieving social objectives and the necessary solvency to work on a sustainable basis. To do so, besides the theoretical and literature review, a quantitative study is conducted from a comprehensive database that includes more than 1,000 institutions worldwide. Microfinance sometimes focus on its role as a financial service, while from other approaches is seen as an instrument to eradicate poverty. In this context, the thesis concludes that there is no inevitable contradiction between the objectives of social projection of microfinance institutions and their own financial sustainability, showing that, in practice, both issues can be compatible and complementary.