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Abstract:
Microfinance is a new innovation in the field of finance and it has rapidly spread all over the world within last five years addressing to the financial requirements of poor. Poverty is a fundamental question currently confronts by the Sri Lankan government too as it negatively affects to the development process. Anuradhapura is one of rural areas where people are in financial squeezes due to lack of development initiatives, resulting micro finance institutions has invaded the area during last few years and significant amount of poor people's has embraced the concept of microfinance rather adjoining with formal bankers. Hence the study was examined impact of microfinance on poverty alleviation in Anuradhapura Area. The result was generated from the answers taken from 139 randomly selected microfinance beneficiaries in Anuradhapura area and data were analyzed across different statistical tests through SPSS software. The light of the study highlighted that microfinance has significantly contributed to reduce the level of poverty in Anuradhapura.
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