The Need for Speed
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World Bank, Washington, DC
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Microfinance has been a lifeline for
many low-income people at the base of the pyramid, helping
them break the cycle of poverty and improve their lives. Yet
the rapid growth of the microfinance industry, combined with
limited financial literacy among its customers, made it
particularly vulnerable during the 2008-2009 global
financial crisis. To expand short-term financing solutions
to the microfinance industry following the crisis, to keep
credit flowing during a period of unprecedented financial
strife, International Finance Corporation (IFC) launched the
microfinance enhancement facility, one element of its
comprehensive counter-cyclical crisis response package. A
timely response was critical, and implementation risks were
high. This smart lesson shows how strong cooperation with
partners and the decision to develop an outsourced model
contributed to the success and reliability of this
crisis-response initiative.
Palabras clave
ADVISORY SERVICES, FINANCIAL SERVICES, CAPITAL MARKETS, DEPOSIT, RECEIPT, ACCOUNTING, DEPOSITS, PEOPLE, FINANCING, FUND MANAGERS, INCOME, MICROFINANCE SECTOR, PARTNER, TRACK RECORD, INDUSTRY, INVESTMENT MANAGERS, LIQUIDITY, PORTFOLIO, NEW PRODUCTS, LOAN, LIQUIDITY FACILITY, OUTSTANDING BALANCE, SOCIAL INVESTMENTS, OUTSTANDING BALANCES, INVESTMENT PROCESS, INFLATION, UNINTERRUPTED ACCESS, MICROFINANCE INSTITUTIONS, ACCESS TO FINANCIAL SERVICES, AGRICULTURAL COOPERATIVE, CURRENCY, TRANCHES, ECONOMIC COOPERATION, TRADING, INVESTMENT MANAGER, FINANCIAL INSTITUTIONS, DEBT, MARKETS, INTERNATIONAL DEVELOPMENT, INDICATORS, LOANS, ENTERPRISES, RECESSIONS, FINANCE, PORTFOLIO QUALITY, INVESTMENT DECISIONS, TRANSACTIONS, UNIONS, EQUITY, TRANSACTION, INVESTORS, MICROFINANCE INDUSTRY, AGRICULTURAL ENTERPRISES, SHORT-TERM FINANCING, CAPITAL, POLICIES, VOLATILITY, FINANCIAL POLICIES, TRANCHE, CUSTODIAN BANK, FINANCIAL CRISIS, REPUTATION, BANK, RETURNS, CREDIT, FOREIGN INVESTMENT, INVESTMENT BANK, FINANCIAL PERFORMANCE, DISBURSEMENTS, SHARES, FINANCE COMPANY, MARKET, EQUITY INVESTMENT, COMPANY, INVESTMENT PROPOSALS, COOPERATIVE BANK, PROFITABILITY, SHAREHOLDERS, MICROFINANCE, TRADE, INVESTOR, INVESTMENT, RISK, INVESTMENT PORTFOLIO, SHARE, PARTNERS, POVERTY, COOPERATION, MARKET DEMAND, INVESTMENTS, LENDING, RISK MANAGEMENT, COMMUNICATION, MARKET FINANCE, RAPID GROWTH, SHAREHOLDER, CUSTOMERS, OUTREACH, REMITTANCES, FINANCIAL SECTOR, SHORT-TERM LIQUIDITY, COOPERATIVE, FINANCIAL SECTOR DEVELOPMENT, DEVELOPMENT BANK, CLIENTS, MICROFINANCE INSTITUTION