The Need for Speed : Helping the Microfinance Industry Stay Afloat in Times of Crises

Hrkac, Vladimir

World Bank, Washington, DC

关键词: ADVISORY SERVICES;    FINANCIAL SERVICES;    CAPITAL MARKETS;    DEPOSIT;    RECEIPT;   

RP-ID  :  99061

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Microfinance has been a lifeline formany low-income people at the base of the pyramid, helpingthem break the cycle of poverty and improve their lives. Yetthe rapid growth of the microfinance industry, combined withlimited financial literacy among its customers, made itparticularly vulnerable during the 2008-2009 globalfinancial crisis. To expand short-term financing solutionsto the microfinance industry following the crisis, to keepcredit flowing during a period of unprecedented financialstrife, International Finance Corporation (IFC) launched themicrofinance enhancement facility, one element of itscomprehensive counter-cyclical crisis response package. Atimely response was critical, and implementation risks werehigh. This smart lesson shows how strong cooperation withpartners and the decision to develop an outsourced modelcontributed to the success and reliability of thiscrisis-response initiative.