Achieving Sustainable Development Goals through Microfinance with help of Self Help Groups

Abstract: The United Nations General Assembly adopted the 2030 Agenda for Sustainable Development, On 25 September 2015, along with a new set of development goals that are collectively called the Sustainable Development Goals (SDGs).The United Nations’ Sustainable Development Goals (SDGs) have stimulated the development community with an vital challenge to make better the wellbeing of the world’s neediest people. Microfinance is effective tool of providing financial services to low income households and underprivileged society for improving their status in the society and nation as a whole. Microfinance can play an important role in achieving sustainable development goals. SDGs like “end poverty in all its types”, “reducing hunger and promoting food security”, “achieving good health and well being”, “fostering quality education” ,“empowering women” ,“clean water and sanitation”, “ promoting economic growth”, “ promoting innovation and sustainable industries”, and “peaceful societies” can be achieved through microfinance by self help groups. This study is an attempt to identify microfinance objectives that can relate to achieving SDGs and on the basis of microfinance services to propose a microfinance wheel for achieving SDGs. Result of the study shows that microfinance products can become beneficial for achieving SDGs through microfinance. Microfinance wheel tells about that how we can achieve sustainable development goals through the proper utilization of microfinance services. Keywords: microfinance, sustainable development goals, economic growth, development community