the year 2005 has been launched as the international year of micro credit with the objective of lending money to individuals or cooperate societies to pay back within an agreed period.
the minister of state for economy planning ,dr samuel ashong who launched the year of microcredit at the united nations develpoment programme head office in ghana specficaally accra said that the cardinal objective of micro credit is to make a postive impact on the lives of poor who can not obtain financail assistances form the formal financail sector.
the UN Secretary General mr KOFI ANNA NOTED THAT micro credit has proved it value in many countries as a weapon against poverty and hunger .
this will help speed the achivement of the MDGS on the set time.well it will empower women who want to earn something but cannot to start selling to gain for it.in it truth sense the micro crdit is loudable and must be used to help develop countries most importantly african countries.