Small Beginnings for Great 0pportunities : Lessons Learned from 20 years of Microfinance Projects in IFC

International Finance Corporation

World Bank Group, Washington, DC

关键词: ACCESS TO CREDIT;    ACCESS TO FINANCE;    ACCESS TO FINANCIAL SERVICES;    ACCESS TO FINANCING;    ACCOUNTS RECEIVABLE;   

RP-ID  :  95037

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

By increasing access to finance forout-of-reach households and families, microfinance continuesto be an essential tool for improving livelihoods at thebase of the pyramid. The last 20 years have seen remarkablegrowth in the microfinance sector. From its early stages insmall-scale microenterprise lending, through its commercialexpansion to offer savings and a broad array of financialservices to low-income customers, to its entry into newmarkets and incorporation of technological innovations,microfinance is ensuring that an ever-greater number ofhouseholds have permanent access to a range of high-qualityand affordable financial services. The microfinance industryis estimated at $60 to $100 billion globally, where severalthousand microfinance organizations reach an estimated 200million clients, most of whom were not previously served bythe formal financial sector. However, 2.5 billion adultsstill lack access to formal financial services. Financialservices for low-income people are an important factor whenit comes to poverty reduction, as it enables them to buildassets, increase incomes and reduce their vulnerability toeconomic stress. Moreover, microfinance continues to be animportant tool when it comes to empowering women. IFC is theWorld Bank Group s main investor in microfinance, workingwith around 300 microfinance institutions (MFIs) andSME-focused financial institutions, which provide financialservices in 91 countries. IFC is also one of the leadingglobal investors in terms of volume. In fiscal year 2014, wecommitted $519 million in 43 projects with MFIs. Ourcumulative investment portfolio in microfinance exceeded$3.5 billion, with outstanding commitments of $2.0 billion.In fiscal year 2014, IFC advisory services comprised $74.2million, representing advisory assistance for 86 projects.This smart book, titled from small beginnings to greatopportunities, presents practical lessons learned from thework that authors have been doing on microfinance projectsover the last twenty years. From launching the MicrofinanceEnhancement Facility to help the industry stay afloat duringthe time of crisis, to working on a project to supportmicrofinance clients to fulfill their housing dreams, thesenarratives are both engaging and insightful.