Microfinance and local development: the case of Senegal.

Summary Access to finance is one of the Millennium Development Goals. Poor populations do not have access to financing granted by traditional banks. Microfinance, through microcredit, attempts to meet this major challenge. In Senegal, microfinance has achieved great success through these large MFIs (CMS, UM-PAMECAS, ACEP) which have reached financial viability. However, can we say that microfinance is actively involved in the fight against poverty in Senegal? Micro-loans promote local development: they encourage merchants, artisans and entrepreneurs to develop their local micro-projects and we know that these small projects have a ripple effect on the local economy first and then on the economy of the entire country. The thesis analyzes the links between microfinance and local development in the case of Senegal.