Originally posted on Truelift:
Adapted Product Series: Services that meet the needs of the Poor
Our Poverty-focused Microfinance Community of Practice (PovCoP) will be exploring adapted products over the coming months in a series of posts, group discussions, and interviews. Please join us in our quest to outline the adaptive practices and principles that are working well to support poor communities and provide measurable results. By looking at the abundance of resources made available by organizations throughout the industry, we will learn how to navigate the unique challenges that come with adapting products to specific segments. We’ll start with a few case studies and learn what made each project a success. Please help broaden our understanding by sharing your own experiences with the community as well. For more information on adapting microfinance products globally, take a look at CGAPs recently released Better Insights for Better Products.
Youth Loans in Yemen
Our first example of an adapted product was born out of a partnership between Silatech and Al-Amal Microfinance Bank in Yemen. This initiative to create a Youth Loan Fund for Yemeni youth saw quite positive outcomes and there is much that can be learned from this successful partnership venture. To begin, watch the video below.