You’re invited to an exciting webinar organized by Uplift on April 21st (10 AM EDT / GMT-4): “Is it too late for microfinance to be pro poor? The case for linking microfinance with graduation.”
The Graduation Approach was first developed by BRAC to help address the needs of those who were too poor for microfinance services.
In recent years, shifts in the regulatory environment and disruptive digital inclusion technologies have put pressure on microfinance institutions to go up market and move away from their original pro-poor mission.
Please register by April 19th. The password to register is “MCSEWORKSHOP”.
>> An interview with Larry Reed, director of the Microcredit Summit Campaign by Miranda Beshara
The first Microcredit Summit was held in 1997 and called for a nine-year campaign to reach 100 million of the world’s poorest families. In 2005, the Campaign was re-launched until 2015. In 2016, where does the Microcredit Summit Campaign stand and how does the future look like?
At the Halifax Global Summit in 2006, the microfinance community set two new goals for the Campaign. First, to reach 175 million of the world’s poorest families with microfinance and, second, to see 100 million of the world’s poorest families move out of extreme poverty. Our latest numbers, from 2014, show we still have a lot of work to do to reach those goals. Much of the growth of microfinance in recent years has been with families that are not living in extreme poverty. We have focused our attention on the types of finance that reaches to the poorest families, and helps them limit vulnerabilities and take advantage of opportunities.
The Microcredit Summit Campaign, as part of its 6 Pathways, is helping to highlight ways that digital platforms are helping to expand financial inclusion, especially for the extreme poor. We are pleased to share with you this Executive Summary of their research.
At the 18th Microcredit Summit this research will be included in the breakout session “The Digital Revolution and Financial Inclusion.” We hope to see you there!
>> Authored by Jorge Moncayo and Marcos Reis.
Financial systems have a vital role in national economies. They provide savings, credit, payment, and risk management products to society. In this sense, inclusive financial systems — those with a high share of individuals and firms that use financial services — are especially likely to benefit poor people and other disadvantaged groups. On the contrary, poor people must rely on their limited savings to invest in their education or become entrepreneurs. In addition, small enterprises must rely on their limited earnings to pursue promising growth opportunities (Demirguc-Kunt and Klapper, 2012).
We have some exciting developments with the Summit agenda to share with everyone. Responding to intense demand for more sessions, we have decided to extend the days of the 18th Microcredit Summit at no extra charge!
The new dates will be Monday, March 14th to Thursday, March 17th, so please be sure to plan your travel dates to be in attendance for the Welcome Ceremony, which will now take place in the morning of March 14th. We apologize for any inconvenience this may cause you, but we hope the program will make it worth your while.
Beth Rhyne’s recent review of the Davos report “Guidance on the application of the core principles for effective banking supervision to the regulation and supervision of institutions relevant to financial inclusion” articulately and clearly present some of the chief benefits of the Davos meeting as well as outline some of the important work that still largely remains in context of framing regulations to support achieving full financial inclusion.
The Campaign, like the Center for Financial Inclusion, has a mission that focuses on ensuring that as financial inclusion strategies are developed become the prime means of moving forward the global agenda to end poverty, that these strategies are sure to include those who are among the hardest to reach populations. This will take a mix of new and innovative programs as well as, as Beth Rightly phrased it, a reinvention of how regulatory frameworks facilitate those programs.
At the 18th Microcredit Summit, the Campaign is organizing, in partnership with the Arab Monetary Fund (AMF) and the Arab Gulf Fund for Development (AGFUND), a special meeting of Governors of central banks throughout the Arab region to discuss recent progress in achieving this redefined shape and meeting their financial inclusion mandates. With participation from key stakeholders like GIZ, CGAP, and others, we will be facilitating a deep discussion on the importance of many of the key issues that Beth has raised. Learn more about this side event, called “Implementing National Financial Inclusion Mandates.”
We encourage you to read her assessment on where Davos has brought the regulatory sector and what roads and challenges lie ahead for it. Furthermore, if the topic really grabs you, the Davos report is open for public comment until March 31, 2016.
The 2015 State of the Campaign Report underscores the challenge microfinance faces in realizing its original goal — to alleviate poverty by providing quality microfinance services to the poorest segments of society. In it, we make the case for the scale-up of financial services “pathways” that can advance the end of extreme poverty with prescriptive actions for financial service providers, government policymakers, and others. These “Six Pathways,” which you can read all about in the report, will be featured throughout our 18th Microcredit Summit.
Financial inclusion is “the first step” in achieving the World Bank’s twin goals by “giving people the tools to get out of poverty [by 2030] and into shared prosperity,” as explained by Alfonso García Mora at the 17th Microcredit Summit in Mexico. Participants will engage in a thoughtful discussion around effective ways to reach the most vulnerable and marginalized and the microfinance services and financial inclusion strategies that promote inclusive, sustainable economic growth and social empowerment that helps improve their lives.
Join us in Abu Dhabi, U.A.E., on March 14-17, 2016, for another great microfinance conference!
Over the past 20 years, the Philippines has enjoyed an increase in life expectancy, improved access to education and economic opportunity, and a decrease in communicable diseases. However, maternal health has lagged behind, and as 2015 draws to a close, the world will be reflecting on the Millennium Development Goals like #5, “Improve maternal health.” Three development organizations took action in 2014 to tackle this challenge and are now celebrating what has been achieved, new partnerships that have been formed, and plans for moving forward.
Freedom from Hunger and the Microcredit Summit Campaign partnered with CARD Mutually Reinforcing Institutions (CARD MRI) to implement a project called “Healthy Mothers, Healthy Babies: Kalinga kay Inay.” The project is supported by an educational grant from Johnson & Johnson and will conclude at the end of 2015.
The Microcredit Summit Campaign released our 17th annual survey of the global microfinance industry Wednesday at the Inclusive Finance India Summit held in New Delhi, India. Larry Reed featured the publication, Mapping Pathways out of Poverty: The State of the Microcredit Summit Campaign Report, 2015, in his presentation on Wednesday to attendees of India’s premier financial inclusion conference.
What does the 2015 report say about the data?
According to our annual survey, the global microfinance community reached 211 million borrowers as of December 31, 2013, and 114 million of them were living in extreme poverty (households living on less than $1.90 per day, PPP).
What this means is that, while the microfinance community provided loans to the most clients since we began tracking this number in 1997, the number of poorest clients fell for the third straight year. This is concerning.
The Microcredit Summit Campaign is delighted to support CFI’s efforts to track the progress of the Financial Inclusion 2020 project. In contribution to the “Financial Inclusion 2020 Progress Report,” we recently conducted a series of interviews with microfinance leaders around the world who are committed to reaching the most marginalized. Read “Addressing the financial needs of the most excluded” to hear directly from practitioners engaged in this work. Elisabeth Rhyne believes you will be both astonished by the progress and daunted by the gaps that remain” in financial inclusion. Read her post below and visit the interactive Progress Report website to take part in this financial inclusion diagnosis.
Today the Center for Financial Inclusion (CFI) is proud to launch the Financial Inclusion 2020 Progress Report, an interactive website that portrays the recent progress and unmet challenges on the path to global financial inclusion.
When we began the FI2020 project in 2011, we hoped to create a sense of both urgency and possibility. We believed that enabling everyone in the world to gain access to quality financial services was a goal of major development significance. We also saw that with many active players and the promise that digitization would enable many more people to be reached at lower cost, it was no longer simply wishful thinking to call for full inclusion within a reasonable timeframe. Global financial inclusion had entered the realm of the possible.
Are you attending the 2015 Annual Meetings of the World Bank Group and the International Monetary Fund in Lima, Peru? Join us at the Civil Society Policy Forum* for a workshop to explore how microfinance and financial inclusion can contribute to the fight against extreme poverty.
The Microcredit Summit Campaign will host a workshop at the Forum at the World Bank Annual Meeting in Lima from October 6-9. The Forum promotes substantive dialogue and an exchange of views between Bank/Fund staff, civil society organizations (CSO), government officials, academics, and other stakeholders.
6 Financial Inclusion Pathways to End Extreme Poverty — What Role Can You Play?
>>Authored by Ian Radcliffe, Director, WSBI-ESBG, Belgium
WSBI has long been a supporter of the Microcredit Summit Campaign and its goal of helping 100 million families lift themselves out of extreme poverty. As an organisation that represents the interests of approximately 6,000 savings and retail banking institutions across 80 countries, advancing financial access and financial usage for everyone is core to our members’ missions.
In fact, it is part of a heritage that can be traced back to our members’ roots that in some cases go back to the late 18th and early 19th centuries in promoting self-help among poor communities. And, since it has nowadays become broadly accepted that financial inclusion brings material economic and societal benefits including lifting people out of poverty, the Microcredit Summit Campaign’s mission is entirely congruent with WSBI and its members’ values.
Our Commitment to the Microcredit Summit Campaign was announced during the 2013 Microcredit Summit in the Philippines and renewed again at last year’s Summit in Mexico. Our commitment focuses on two elements…
This year, the world is coming together in a series of global meetings to decide the level of political ambition we’ll bring to the eradication of poverty.
On Monday, RESULTS UK (a sister organization to our RESULTS Educational Fund) released a report at the Financing for Growth conference in Addis Ababa, Ethiopia, where the global community was negotiating who will foot the bill to eradicate poverty.
Titled “Who Pays for Progress? The Role of Domestic Resource Mobilisation and Development Assistance in Financing Health. A Case Study from Kenya,” RESULTS UK’s report focuses on Kenya’s reclassification from a low-income country (LIC) to a lower-middle-income country (LMIC) and how that reclassification will affect financing for health needs in Kenya. Oxley’s HuffPo article lays out RESULTS’ argument for strong and ambitious commitments from the global community to finance the next phase of development goals and the end of poverty. Español | Français | Continue reading →
In just two weeks, RESULTS Educational Fund, the parent organization of the Microcredit Summit Campaign, will celebrate its 35th anniversary with the 2015 RESULTS International Conference in Washington, D.C. Attendees will hear from leading experts, activists, and policymakers on the challenges and solutions to ending poverty. Join World Bank President Jim Yong Kim, Senator Sherrod Brown (D-Ohio), and Nobel laureate Muhammad Yunus.
We invite you to join in the festivities and attend our workshop called “Partnerships to End Poverty: Health, Government, and Financial Services” on Sunday, July 19th at 4:30 – 6:00 PM. Our session will focus on integrated health and microfinance and linking the graduation model and conditional cash transfers (CCTs). Sonja Kelly (CFI) will moderate a panel discussion with Olumide Elegbe (FHI 360), Dr. DSK Rao, and Larry Reed. Join us to learn why these are key pathways to help end extreme poverty and how you can influence the global development agenda. Español | Français | Continue reading →