Microfinance has an attractive simplicity and a record of success not just in promoting financial resilience but in achieving other social objectives – reaching the excluded, empowering women and developing the capacity of small groups of people to change their fate by themselves. Being a non-profit organization, ASA realized the significance of microfinance for addressing the lack of access in capital for the underprivileged community. It led it in later stage to get itself transformed into an MFI. Now, ASA has emerged as one of the largest and most efficient Microfinance Institutions (MFI) in the world and has been working relentlessly to assist the poor. The major objective behind ASA is to gradually eradicate poverty from society.
During its early years, ASA undertook various development programs like awareness building for social action, training local birth attendants, capacity building of journalists, etc. In the mid-80′s it introduced new programs such as working in the sector of health and nutrition, education, sanitation, etc. From its experience gained in the field, and by evaluating the impact of development assistance, ASA realized that financial solvency was heeded for bringing positive changes in the lives of the poor. In 1991, this paradigm shift led ASA to focus solely on microfinance as a tool in fighting poverty….read more