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Financial Literacy, Access to Microfinance, and Sustainable Development
Book chapter

Financial Literacy, Access to Microfinance, and Sustainable Development

Morshadul Hasan and Ariful Hoque
Financial Inclusion: In Pursuit of UN Sustainable Development Goal 8.10, pp.109-119
Sustainable Development Goals Series, Springer Nature Switzerland, 1st
2024

Abstract

Access to finance Financial inclusion Financial knowledge Financial literacy Microfinance Sustainable development
This study aims to explore the impact of financial knowledge on getting microfinance access. An experimental methodology is employed, particularly probabilistic models, such as Logit and Probit, using data from a primary survey. The results of this study confirm that knowledge of savings and loans, savings and loan interest rates, installment payments, and security deposits have positive and significant effects on access to microfinance. Access to microfinance promotes Sustainable Development through reducing poverty (SDG 1), achieving zero hunger (SDG 2), promoting gender equality (SDG 5), creating decent employment, promoting economic growth, and reducing income inequality (SDG 10).

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