Microfinance loans, the small loans given to low-income families without any security, were meant to help people. But now, many are falling into or already stuck in debt traps.
The borrowers are taking new loans just to pay off old ones. Some are even pulling kids out of school to manage repayments. The system that was created to help people is not working the same way anymore.
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Feels like this needs more attention. What do yu think?