Webinar recap: Is it too late for microfinance to be pro poor?

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https://www.youtube.com/watch?v=mh6iw8-lbKE&feature=youtu.be
On April 21st, the Microcredit Summit Campaign co-hosted with Uplift a webinar discussion focusing on the promise that graduation holds for sustainably reaching the ultra-poor. Our featured speakers were Debasish Ray Chaudhuri, CEO of Bandhan Konnagar in India, Rachel Proefke, a research associate with BRAC Uganda, Mark Daniels, the Philippines director for Opportunity International, and Allison Duncan, CEO of Amplifier Strategies and founder of Uplift. Anne Hastings, a global advocate with Uplift, moderated the webinar.

The conversation looked closely at the experiences that each of the three practitioners on the panel have had in implementing the program as well as the global advocacy message supporting the graduation approach being delivered by Uplift and its allies.

We hope you will get engaged with this promising avenue for reaching those living in ultra-poverty and be inspired by the potential it holds for helping microfinance institutions to reconnect to their original purpose. Some final thoughts from speakers on the webinar follow.

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Video Corner | Shamsul Haque on reducing poverty through an integrated approach

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Shamsul Haque of Society for Development Initiatives (Bangladesh) discusses his organization, the role of microfinance to help end poverty, and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway. Haque explains that SDI’s objective is to reduce poverty in Bangladesh through an integrated approach involving components such as microcredit, education, and the environment.

Haque is attending the Summit to gain experience from people in other countries on how they providing non-financial services like health, education, and the environment. “Microfinance plus at least education and health,” Haque said. “If we combine education, health and microcredit ….they [clients] will graduate [out of poverty]. They will be a respectable people in society. That is also our objective.”

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Video Corner | Tarik Sayed Harun on reducing poverty in Bangladesh

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Tarik Sayed Harun of COAST Trust (Bangladesh) discusses the role of microfinance to help end poverty and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway. Harun explains that the poverty rate in Bangladesh has been reduced by 10 percent over the past five years. He suggests that recent research showing that microfinance in Bangladesh contributes approximately 10 percent to the nation’s GDP supports his contention that microfinance has a strong role to contribute to ending poverty.

“[The 18th Microcredit Summit] is very good opportunity to learn from each other and about very good practices from around the world,” said Harun. “We are trying to learn from the good practices and to implement them in our country, my organization. Overall our one commitment is to reduce poverty, so this is a very good opportunity to learn from each other.”

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Sohelia Haque: MFIs better serve the poor than traditional banks

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Sohelia Naznin Haque of Society for Development Initiatives (Bangladesh) discusses the role of microfinance to help end poverty and the lessons learned at the 18th Microcredit Summit with Miranda Beshara, editor of the Arabic Microfinance Gateway.

Haque echoed Dr. Muhammed Yunus, supporting the goals of zero poverty, zero unemployment, and financial inclusion through technological advancement. She explains how SDI reaches the poor in a way that big banks do not, going to their homes and visiting rural areas.

“We go to them, think about or listen to their demands, needs, motives, drives. According to that, we make our microfinance products and try fulfill their demands,” said Haque. “[Commercial] banks’ interest rates are too high, but our interest rates are not too high according to the demand we provide them.”

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#tbt: Clients Continue Movement above the US$1 a day Threshold

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We are pleased to bring you this #ThursdayThrowback blog post, which was originally published in The State of the Microcredit Summit Campaign Report 2011. We commissioned a study to estimate the net number of microcredit client households in Bangladesh that crossed the US$1.25 a day threshold between 1990 and 2008. You can download a copy of the study from our Resource Library as well.

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E-Workshop Recap: Helping Clients to Prepare for their Old Age

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Exciting opportunities to help an aging world EspañolFrançais Continue reading

Ultra Poor Graduation

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PRA
>> Authored by Shameran Abed, Director, BRAC Microfinance Programme

Shameran Abed, BRAC’s Director of Microfinance, joined the Microfinance CEO Working Group in January. He and BRAC are welcome to additions to this collaboration. He joins the Working Group’s efforts to support the positive development of the microfinance industry and brings tremendous insigShameran Abedht into the discussion around pathways out of poverty.

This month, the results from six randomised controlled trials (RCTs), published in Science magazine highlighted a model of development that is an adaptable and exportable solution able to raise households from the worst forms of destitution and put them on to a pathway of self-reliance. The graduation approach — financial services integrated within a broader set of wrap-around services — is gaining steady recognition for its astonishing ability to transform the lives of the poorest.

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Yunus Centre fulfills Campaign Commitment by cultivating ‘job-givers’

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Graduating Families out of Ultra-Poverty (E-Workshop Recap)

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Summary of Graduation Model E-Workshop from June 9th. EspañolFrançais  Continue reading

Sign onto the Declaration in Support of the Independence of Grameen Bank

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Please join us and other allies of Grameen Bank in endorsing the Grameen Declaration EspañolFrançais Continue reading

Full Financial Inclusion for Social Change

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Artfully moderated by Dr. Sipho Moyo of the ONE Campaign, the plenary session “Building the Ecosystem for Financial Inclusion while Protecting Clients” at the 2013 Partnerships against Poverty Summit highlighted the advancement of the Maya Declaration in select developing countries.

The Maya Declaration, the first of its kind, is a commitment by developing countries to make significant progress in financial inclusion. This plenary session showcased the progress the Philippines, India, and Bangladesh have made thus far and the role policy makers play in bringing about full financial inclusion.

Showcasing the progress the Philippines, India, and Bangladesh have made thus far toward the Maya Declaration.

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Reflections from the 2013 Summit: An Interview with the “Father of Microfinance” – Dr. Yunus

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The much anticipated talk with Dr. Yunus was the key highlight of the opening session at the Partnerships against Poverty 2013. Dr. Yunus began microfinance in Bangladesh around 37 years back, starting initially as a lender to the poor, then … Continue reading