Direction: The given sentence contains a blank. Identify the phrase/statement that can make the given sentence grammatically and contextually correct.
The initial microfinance boom brought many benefits ________ loans on social outcomes have been ‘small and inconsistent’.
1
and it is now widely reported that the effects of microfinance
2
but it is now widely reported that the effects of microfinance
3
but it is now widely hailed that the benefits of microfinance
4
since it is now widely reported that the effects of microfinance
5
whereas it is now widely reported that the affects of microfinance