Micro-credit **t transforming lives of poor: Study

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Washington, Jan 22 (IANS) A study conducted in six countries including India has revealed that while micro-credit - providing small loans to under served entrepreneurs - has some benefits, it is **t a viable poverty alleviation tool. The studies, conducted independently in India, Bosnia and Herzegovina, Ethiopia, Mexico, Mongolia and Morocco followed over 37,000 individuals in total. The studies, conducted by researchers affiliated with US-based **n-profit In**vations for Poverty Action (IPA) and The Abdul Latif Jameel Poverty Action Lab (J-PAL) - a research centre at the Massachusetts Institute of Tech**logy (MIT) - found that small, short-term loans generally do **t lead to increased income, investments in children's schooling or substantial gains in women's empowerment. "The studies do **t find clear evidence of reductions in poverty or substantial improvements in living standards.

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