Campaign to host workshop with World Bank Annual Meeting in Peru

Attending the World Bank meeting in Peru? Join our workshop, “6 Financial Inclusion Pathways to End Extreme Poverty – What Role Can You Play?”

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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?

As the 2014 Global Findex has shown, important progress toward universal financial access is evident. However, there has been much less progress for groups commonly considered to be among the most excluded or hardest-to-reach. Ensuring that these groups are not left out of the march toward universal financial access in the coming four years, intentionality in our approach will be essential as will be a clear framework for actors to coordinate their efforts.

The Campaign is highlighting six pathways that have shown positive outcomes for reaching and including the hardest-to-reach groups especially when delivered in an integrated manner. This lens can offer helpful ways to view opportunities where investment can accelerate progress in including the most excluded, hardest-to-reach populations by 2020.

Session Objective

We will show how the Universal Financial Access by 2020 (UFA2020) campaign links with ending extreme poverty by 2030. In breakout groups, participants will brainstorm how organizations like theirs (CSOs, in Bank-speak) can contribute to financial inclusion pathways to end extreme poverty.

Speakers

  • Larry Reed, Director, Microcredit Summit Campaign
  • Susy Cheston, Senior Advisor for the Center for Financial Inclusion at Accion and leads the Financial Inclusion 2020 campaign
  • Martin Spahr, Senior Operations Officer at the International Finance Corporation
  • Carolina Trivelli, Economist, CGAP

Date

October 8, 4-5:30 PM

Contact Jesse Marsden for more information.

* Note that registration for the Forum is closed. You can see the full Forum agenda here.


The 2015 Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) will be held on October 9 – 11 in Lima, Peru. The Civil Society Policy Forum, a program of events including policy sessions for civil society organizations (CSOs), will be held from October 6 – 9, 2015.

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Some Annual Meeting sessions will be livestreamed. Find out how to watch.

The registration platform for CSO representatives interested in attending the Civil Society Policy Forum is now closed. We will be processing registration requests that were received within the last few days and will be notifying applicants on the status of their request. This process can take a couple of weeks and so we ask for your patience. As previously published, no new registration request will be entertained.

The Business of Doing Good: A Chat with Anton Simanowitz

BizofDoingGoodCover

The Business of Doing Good by Anton Simanowitz and Katherine Knotts

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Larry Reed, director of the Microcredit Summit Campaign, recently sat down with Susy Cheston, senior advisor to FI2020, and Anton Simanowitz, co-author of the new book The Business of Doing Good, to discuss how organizations can do good work and turn a profit, particularly in the microfinance sector.

In exploring this question, Simanowitz draws on key insights from the new book, in which he and co-author Katherine Knotts studied the success of AMK, a social enterprise which has touched the lives of millions of people living in poverty in rural Cambodia. This study revealed six powerful strategies to improve business to do good:

  1. Don’t just offer products; respond to client needs
  2. Ask good questions and have good conversations
  3. Do what it says on the tin
  4. Motivate staff to do difficult work in an excellent way
  5. Own the dirt road
  6. Adapt to the changing landscape

Find out more about the thinking behind these insights.

In the latter half of the book, the authors explore the disconnect between theory and practice and the resulting implications for client value. AMK’s success is largely attributed to its recognition of the distinction between client wants and client needs, which are rooted in the meaningful conversations the organization has with its clients. The authors observe, through their exploration of AMK, that vision is ensured only when it follows intent, instead being constrained by conventional wisdom.

Simanowitz was here in D.C. yesterday to discuss his book with Larry Reed and Susy Cheston on-site at the Center for Financial Inclusion. He spoke about the importance of conversation in the social sector, both with customers and within the organization itself. From his exploration of AMK, Simanowitz noted that client-centricity extends far beyond identifying the needs of the clients and becomes a feedback loop built on what he called conversational interplay.

An organization that successfully addresses the reality gap between theory and practice, he argues, embraces reality. It understands that following its social vision is everyone’s responsibility and so is built into the business model. Anton noted that we all have something to learn from this exploration of AMK, an organization that “has the client in their DNA” and “reinforces the truism that focus on the customer is good for business.”

Listen to the conversation


If you prefer, you can stream the podcast from SoundCloud, or you can download the audio file.

Voice your opinion in our comments section. How can organizations best do good and do well?

Following the conversation, we asked Larry and Anton to write up a few closing thoughts.

Larry said, “What struck me from our conversation today was how much the lessons we learn from AMK apply to any social enterprise that seeks to expand the positive results achieved by its clients while also earning enough income to sustain itself and grow. Social enterprises need to align all their people and systems around their mission, and they do this with good data, engaging and open conversations, lots of iterations and improvements, incentives that reward behavior that promotes the mission, and a governance structure that reviews performance according to mission at every meeting. The result is an enterprise whose corporate culture can consistently generate creative responses to changing client needs.”

Anton said, “Countless organizations of every shape, size, and orientation — not just in the realm of microfinance — are in the business of doing good and working with poor and vulnerable communities around the world to deliver potentially life-changing services to address a range of pressing social needs. Some are doing excellent work, and this book examines what it is that they do that makes the difference. But at the same time, a common theme has emerged in our work over the past 20 years: we see organisations missing opportunities to do things better and organisations getting things wrong, again and again. When surveying the landscape of missed opportunities, there is temptation to become blindsided by the success stories, but we must deliver on the ethical imperative to make good on our good intentions. This book explores the inevitable shortcomings of every success story and how we can learn from those who are ‘doing good’ well.”

The authors of The Business of Doing Good argue that social enterprises and organizations must understand the importance of response, be it to environment, best practices, or client needs and capacities. The Business of Doing Good challenges microfinance practitioners, social entrepreneurs, philanthropists, businessmen, and students of all kinds to reevaluate their respective journeys to deliver on their good intentions throughout their work and beyond.


Anton Simanowitz (@antowitz) has worked for the past 20 years to support social enterprises to be more effective in delivering impact, and for those who support and invest in them to make better investment, capacity building and policy decisions. For support on building organizations to deliver impact, contact him here. To receive current updates about The Business of Doing Good, follow the book on Twitter.

Larry Reed is the director of the Microcredit Summit Campaign (@MicroCredSummit). He has worked for more than 25 years in designing, supporting and leading activities and organizations that empower poor people to transform their lives and their communities. For most of that time Reed worked with Opportunity International, including five years as their Africa regional director and eight years as the first CEO of the Opportunity International Network

Susy Cheston is senior advisor for the Center for Financial Inclusion (CFI) at Accion (@CFI_ACCION) and leads the Financial Inclusion 2020 Campaign. Cheston has a long history of work in economic development, including leading roles at World Vision and Opportunity International, as well as being active in the leadership of the Microenterprise Coalition.


Related reading

Larry Reed: “…if you take my definition, then the key difference is the end objective. Financial inclusion seeks to make sure that everyone has access to useful financial tools, while microfinance wants to make sure that the use of those tools leads to positive benefits for those living in poverty. Under this definition, microfinance links in with other development needs, like health, education, housing, and access to markets. It is concerned to see how the delivery of financial services can help clients address other aspects of their lives that keep them trapped in poverty.

I think it is time to get beyond the tired old notion that holistic programs must be small and insignificant in scale… If we look to include all, and at the same time do it in a way that makes sure that the poor have products and services that help them move out of poverty (beyond quality to actual results), then we end up developing synergies between financial institutions, government transfer payments, mobile platforms, and other development providers. This is the sort of financial inclusion that I get excited about.”

Center for Financial Inclusion blog

The Financial Inclusion 2020 campaign at the Center for Financial Inclusion at Accion is building a movement toward full financial inclusion by 2020. This blog series spotlights financial inclusion efforts around the globe, shares insights from the FI2020 consultative process and highlights findings from “Mapping the Invisible Market.

Excerpts from a conversation between Susy Cheston, Center for Financial Inclusion, and Larry Reed, Director of the Microcredit Summit Campaign. Susy writes:

Hi Larry,

Visa hosted a terrific webinar to launch the Financial Inclusion 2020 campaign a couple of weeks ago, and we promised to answer some of the questions we didn’t get to in our blog. Number one question: What’s the difference between microfinance and financial inclusion? I thought I would take a stab at that one, after having started in “microenterprise development” in 1991, progressed to “microcredit” in the mid-90’s, then “microfinance” in the late 90’s, and now heading…

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