Posts tagged ‘non-financial services’
It’s not just about the money
By Andrea Ramirez, KF16, El Salvador
In recent years the microfinance sector has been hit with harsh criticism about the real impact it has on improving the lives of the low-income clients it serves. If it is true that microfinance, including micro-credit, is not the panacea for poverty; it is also true that Microfinance Institutions (“MFIs”) don’t have an easy job. MFIs and their staff are, in my opinion, the true heroes. Their loan officers and administrative staff are those who are out there, day after day, meeting clients and trying to help them achieve their dreams – and yes, realizing dreams doesn’t come cheap. Although there are many great institutions providing more than microfinance services (often times called “microfinance +”), I have yet to come across an operating model as unique as that of Fundacion Campo (“FC”).
Continue Reading 7 September 2011 at 08:00 Andrea Ramirez 2 comments
A Youth Perspective on Poverty
Strong ties to local communities not only allow microfinance institutions to build enduring relationships with borrowers, but also to invest in socially-driven community projects. In many cases, the non-financial services an organization provides can be as valuable as the microcredit it offers. Kiva’s Lebanon partner, Al Majmoua, is an excellent example of how the resources and commitment of a microfinance institution can positively impact and empower an extremely important segment of the population—young people or “il shabab” in Arabic.
