New Partnerships for Innovation in Microfinance

von: Ingrid Matthäus-Maier, J. D. von Pischke

Springer-Verlag, 2008

ISBN: 9783540766414 , 387 Seiten

Format: PDF, OL

Kopierschutz: Wasserzeichen

Windows PC,Mac OSX Apple iPad, Android Tablet PC's Online-Lesen für: Windows PC,Mac OSX,Linux

Preis: 41,64 EUR

Mehr zum Inhalt

New Partnerships for Innovation in Microfinance


 

Foreword: The Importance of New Partnerships

5

Building Sustainable Institutions from the Ground up

5

Opportunities for Public-Private Partnerships

6

Preface: New Partnerships for Innovation in Microfinance

7

Advances in Microfinance

7

Expanding Outreach

8

Combining Forces to Increase Impact

9

Partnerships for Innovation

10

Table of Contents

12

New Partnerships for Sustainability and Outreach

15

Some Early Building Blocks in the Structure of Microfinance

15

Microfinance Attracts New Friends

18

Drivers of Change

20

What Business Are We in?

20

Reconsideration of Mission Drift and Other Opportunities

22

Micro-savings and Micro-pensions: A Cautionary Note

22

Outlook

23

References

26

PART I: Partnerships to Leverage Private Investment

28

Introduction to Part I

29

Raising MFI Equity Through Microfinance Investment Funds

31

Introduction

31

Microfinance Investment Funds’ Status in 2005

32

The Three Main Types of Microfinance Investment Funds

33

Challenges Facing Microfinance Investment Funds Investing in Equity

43

Conclusions

52

Annex A

54

Annex B

57

Annex C

58

References

59

Market Transparency: The Role of Specialised MFI Rating Agencies

60

The Rationale for MFI Rating

60

The Progress of Microfinance Rating

61

Use of Ratings for the Financing of Microfinance

64

Results and Impact – Contributing to Financial Market Deepening

66

Challenges in Contributing to Financial Market Deepening

70

Conclusions

78

Annex: Ratings Directly Financed by Donors/MFIs

79

MFI Equity: An Investment Opportunity for the Broader Public?

80

Introduction

80

Role of MFI Equity

81

Second Generation MFIs: A Subset of Private Equity?

82

An Attractive Investment Opportunity

84

Defining the Broader Public

86

Life Cycle for Microfinance Equity Funds

89

Going Forward

91

Concluding Remarks

93

References

93

Microfinance and Economic Growth – Reflections on Indian Experience

95

Introduction

95

The Importance of Financial Services

95

Microfinance

96

The Indian Context

96

Summary

98

Microfinance Investments and IFRS: The Fair Value Challenge

99

Introduction

99

Microfinance and Foreign Equity Investment

100

Valuing Microfinance Investments

104

Conclusion

117

References

118

PART II: Technology Partnerships to Scale up Outreach

119

Introduction to Part II

120

Remittance Money Transfers, Microfinance and Financial Integration: Of Credo, Cruxes, and Convictions

122

Credo: Integration

123

Cruxes – A Few …

126

Convictions …

130

Bibliography

135

Remittances and MFIs: Issues and Lessons from Latin America*

137

Introduction

137

Microfinance Institutions and Remittance Markets

138

Analysing the Intersecting Issues

140

Geographic Presence

141

Market Position

142

Financial Service Provision

146

Information Management for the Demand Side

148

Technology Tools

149

Preliminary Conclusions

151

References

152

Annex 1: Latin American Microfinance Institutions: Key Indicators and Data Sources

153

Using Technology to Build Inclusive Financial Systems*

154

Are Banks Using Technology to Deliver Financial Services to Poor People?

156

How Are Banks Benefiting from These Technologies?

160

Will Technology Make Microfinance Profitable for Banks?

165

Are Poor People Gaining Access to Financial Services Through Technology?

166

What Lessons Emerge from Early Experiments with Technology Channels?

169

Annex 1. Financial Institutions That Use E-Payments to Serve the Poor

174

Annex 2. Financial Institutions That Participated in CGAP’s E- Payments Survey

176

Bibliography

177

Information Technology Innovations That Extend Rural Microfinance Outreach

179

Introduction

179

How Can New Partnerships and Collaboration Expand Microfinance Outreach in Rural Areas?

181

Examples of the Potential of Information Technology Partnerships in Rural Microfinance Outreach

185

Challenges and Opportunities for IT to Improve Rural Microfinance Outreach

191

Conclusion

195

Appendix

196

Banking the Unbanked: Issues in Designing Technology to Deliver Financial Services to the Poor

200

Introduction

200

Defining the Problem, Identifying a Potential Solution

201

Technology Development and Deployment in Uganda

202

Three Overarching Conclusions

203

Shared Infrastructure: A Requirement for Scale

209

Can Credit Scoring Help Attract Profit-Minded Investors to Microcredit?*

212

Introduction

212

How Does Scoring Work in Microcredit?

213

What Are the Benefits and Costs of Scoring?

218

Beyond Pre-disbursement Scoring

223

Who Adopts Scoring for Microcredit and Why?

226

Conclusion: Scoring, Investors, and Donor Opportunities

227

References

230

Appendix 1: Collecting Data for Scoring in the Future

232

Credit Scoring: Why Scepticism Is Justified

237

PART III Partnerships to Mobilise Savings and Manage Risk

240

Introduction to Part III

241

Micropensions: Old Age Security for the Poor?

243

A Framework for Micropensions

243

Growing Old Poor

245

The Challenge of Developing Micropensions

251

Conclusions

260

Annex 1: “How Are You Preparing for Your Old Age?” Responses from Poor People in Bangladesh

261

Annex 2: “How Are You Preparing for Your Old Age?” Responses from Poor People in Africa

265

References

265

Cash, Children or Kind? Developing Old Age Security for Low- Income People in Africa

267

Introduction

267

Challenges of Old Age

268

Preparing for Old Age

270

Methods of Saving

273

Designing a Savings Scheme for Old Age

274

A Pension-cum-Mortgage Scheme

276

Conclusion

276

References

278

Microinsurance: Providing Profitable Risk Management Possibilities for the Low- Income Market

280

Introduction

280

What Is Microinsurance? Quick Definition: Products and Delivery Mechanisms

280

Why Is Microinsurance Important to Development?

282

Social Protection and Private Insurance: Competition or Partners?

285

The Role of Insurers in Microinsurance

286

How Microinsurance Can Be Delivered Efficiently

288

Opportunities for Insurers in Microinsurance

290

A Role for Donors

293

Role for Investors

295

Key Market Access Points – Efficiency Is the Key

295

Conclusions

297

Appendix 1: Summary of La Equidad Basic Protection and Small Business Protection Plan Coverage

297

References

298

Securitisation: A Funding Alternative for Microfinance Institutions

300

Introduction

300

What Is Securitisation?

302

A Glance at Securitisation Markets

310

Requirements for Securitisation in Emerging Markets

314

Can MFIs Securitise Their Assets?

322

Recent Developments in Securitising Microfinance Assets

328

Conclusions

341

References

345

Reducing Barriers to Microfinance Investments: The Role of Structured Finance

349

Introduction

349

Accessing Private Capital Markets

350

Structured Microfinance: Basic Structures and Recent Examples

356

Several risk tranches

361

The Role of Donors in Structured MFI Refinancing

363

The Impact, Efficiency and Effectiveness of Structured Finance

367

Conclusion

370

Annex 1: Microfinance Loan Obligations 1 (MFLO 1) – Opportunity Eastern Europe Securitisation: Asset- Backed Securities

371

Annex 2: BlueOrchard Loans for Development 2006: Pass- Through Securitisation

373

Annex 3: EFSE Pooling Structure

374

References

376

Index

379