Source: The Street (Associated Press).

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VIENNA, October 30 – Microfinance fails to meet the needs of successful women entrepreneurs who want to expand their businesses, a United Nations expert said Friday.

Microfinance is aimed at improving the lives of the world’s poor by offering them access to basic financial services such as loans that they ordinarily wouldn’t qualify for. But it has its limitations, said Carolyn Hannan, director of the U.N.’s division for the advancement of women.

“Microfinance has not necessarily always empowered women and, in particular, it has failed to meet the needs of successful women entrepreneurs who are wishing to expand their businesses,” said Hannan….

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