Still an Elusive Goal: Measuring the Impact and Success of MicrofinancePublished: April 24, 2013 in Knowledge@Wharton
- Play to their broad array of strengths by "building dynamic institutions to mass-produce useful services for the poor," rather than simply focus on trying to alleviate poverty. In that regard, he cited such success stories as Bolivia's BancoSol, which has split into two different institutions; one that focuses on microcredits -- which has 169,000 borrowers -- and another institution that focuses on savings, which had 485,000 customers as of 2012.
- Discourage efforts to lend to the very poorest people in the community, since they may be unable to repay their loans.
- Deemphasize credit and move toward savings deposits, insurance and money transfer services for the poor.
- Look to new technologies, such as the mobile web, to reduce inefficiencies and to expand access to a wider range of services in a wider range of communities.