CSR and Financial Inclusion in Microfinance Institutions: What Link? A Literature Review

Abstract

In a context marked by profound changes, globalization, and significant regulatory and technological transformations, it has become crucial for organizations to adopt a sustainable development approach that considers social and environmental concerns. Microfinance institutions (MFIs), as key players in financial development and given their primary role in financing the most vulnerable populations, can be seen as drivers of social cohesion through their ability to combat social exclusion. This highlights the necessity of implementing Corporate Social Responsibility (CSR). Such responsibility serves as a strategic lever not only to ensure the sustainability of MFIs but also to strengthen the financial inclusion of their clients by addressing their social and economic needs. The main objective of this paper is to explore, through a literature review, the relationship between microfinance and CSR, and to understand how MFIs adopt this responsibility in serving their stakeholders to promote financial inclusion.