Microfinance Institutions (MFIs) are organizations that provide financial services to low-income individuals or communities who typically lack access to traditional banking. These services often include small loans, savings accounts, and insurance products, aimed at helping people start or grow small businesses and improve their living conditions. MFIs play a crucial role in promoting economic development by empowering entrepreneurs and fostering self-sufficiency. They often focus on underserved populations, including women and rural communities, and can help reduce poverty by enabling individuals to invest in their futures and create sustainable livelihoods.