Microfinance is an activity centered on the poor (Chu, Michael 2007). It is the friend of the local community. However, it must generate a revenue stream sufficient to cover all expenses and yield a surplus. Profitability needs to sustain. Microfinance has a clear record of social impacts and has been shown to be a major tool for poverty reduction and genfder empowerment ( Aghion and Morduch ????, p. 4). Micro lenders serving the poor and making profits. Profitability has been elusive for most institutions (p.4). All micro credit literatures agree that enterprises with relatively little capital should be able to earn higher returns on their investments than enterprises with a great deal of capital (aghion and Morduch??, Yunus 2008, Cofi Anan, 2005, Gibbons 2002, Harris 2002, Rhyne, 1997, Drake 1997, Chu, 2007, Shrrage 1997, Moore 2005, White and Campion ???, Rosengard ???, beck, Kunt and Levine ????, Barr ???. Microfinance movement has lifted the profile of NGOs (Morduch ????).

Rationality of the Study

My PhD research has important implications for MFIs, reduce unemployment, reduce poverty, promote self-employment and sustainable development through massive micro-credit services in Toronto. Green Micro-Business, through Green Micro- Financing, has several benefits. Those benefits include the promotion of environmentalism, the eradication of poverty, the enhancement of sustainable business development, the promotion of local living economics and community economic development. Lastly it creates self-employment in the larger society. Despite this, Green Micro-Financing and Green Micro- Business development have been underserved in Canada. Less attention has been given to each by various public, private and non-governmental (financial and non-financial) agencies. This has not been filtered through the creation and execution of policies, strategies, and programs. During my various areas of study and field placement experience (at Alterna Savings) while pursuing my MES, I found that public, private and other non-profit organizations are not serious about promoting Green Micro-Businesses in Canada. However, Green Micro-Financing is an important component to enhance environmentalism, enhance green businesses and to eradicate poverty. Therefore, it is important to rethink and reformulate public and private policies, strategies and laws for the people centered on sustainable environmental development. Equally important is the search for a balanced interaction among physical geography, human geography, different social and financial institutions, and human resources for the maintenance of a healthy society and the eradication of poverty for women in Canada.

Three ideas develop my thesis. First;;;;;;

Personal Experience and Academic Background:I have extensive work experience in managing and implementing Green Micro-Lending programs; income generating projects for women; local resource management; poverty reduction programs in Bangladesh, Pakistan, India, Philippines, Namibia, Lesotho, USA, and Canada through Grameen Bank (Bangladesh, United Nations); Africa Development Foundation; Good Faith Fund (Arkansas); and Alterna Savings (Toronto). The Secretary General of United Nations, Kofi Annan, recognized my work for Peace and Development. I completed a BA Honors and MA in Sociology from Chittagong University, Bangladesh in 1978 and 1979 respectively. I completed a BA with Dean’s Honors in Women Studies from York University and a diploma in Social Work from Centennial College in Now I am studying in MES specializing in Green Micro-Financing.

Career Objectives to my Graduate Studies through FES: The Faculty of Environmental Studies has an integrated approach to address the issues of environmental challenges, poverty and green Micro-Enterprise promotion. It has interdisciplinary research facilities on nature, culture, society, environments, institutions and their interventions. It is enriched with specialized faculty members and encourages research on diversified development work. It has connections with different disciplines internally and externally to York University. The connection to different organizations across disciplinary boundaries can help me to explore my area of interesting in Green Micro-Financing for the promotion of green enterprises and to work towards eradicating poverty in Canada.

Community and Community Economic Development

Before discussing the relationship between micro finance and CED it is important to define community and community economic development. A community is a group of people who know each other personally and who plan together towards a common goal, and work to overcome adversity (Shragge 1997). Shragge (1997) defines CED the in following way: “ CED is a cooperative attempt by local people to take control of the socioeconomic destiny of the community to respond to local needs” (p. 12). It is an attempt is to democratize the economic lifestyle of the neighboring communities (p.103). In other words, CED is a socially directed approach in which individual groups devote their efforts towards meeting the basic needs of the others in the community. These necessities are determined by deliberate allocation of scarce resources. Here local communities work together at setting up businesses and promoting their own interests through economic expansion. Here the definition of economy serves all CED approaches ( Ced, cEd, and ceD) can be given as a system of human activity directed to meeting human basic needs that is determined by deliberate allocations of scarce resources” (Boothroyd, P. and Davis, H. 1993: 230).

Micro financing is working with local currency to provide for the poor create self-employment through income generating schemes; helps meet basic needs and build the local economy. It also mobilizes small deposits and community savings which are used to invest in community planning. Micro financing is a small financing system, whereby, interested private entrepreneurs borrow money for running their own sustainable small business ventures. Micro financing is run by NGOs all over the world.

Terms:

Microcredit is a form of small loans to micro entrepreneurs with objective of engaging them in small businesses for earning income. It is a program that involves serving the poorest communities in any area, by providing them with soft loans to develop and maintain businesses. Micro enterprise that produces an income-generating activity selected by the entrepreneur borrowers, and managed by the borrowers themselves or by the members’ family at the household level. Sustainable development is an integrated and interdisciplinary approach that incorporates and interconnects the impact of economic, social, and environmental factors on quality of life. Self-employment is strategy significance to as a self- sufficiency option for the unemployed. It is a peoples own creative response to unemployed labour force that provides self- dignity and increase self-esteem and is an excellent opportunities of diversity and innovation to the grass root economy. It is strategy for community economic development and to promote local economic and social development in the high poverty neighbourhoods.. It is a part of job solution in unemployment and address the issue of poverty in the high poverty prone area.