Global Microfinance Index announces early insights, Top Impact Award Winners and 3 new tools to access the data
LONDON, July 13, 2023 /PRNewswire/ -- Microfinance is improving the quality of life, increasing the resilience of low-income customers to withstand economic shocks, and reaching people without prior access to financial services without creating over-indebtedness. By providing small loans, savings accounts, and other financial services tailored to the needs of marginalized communities, FSPs empower individuals to improve their livelihoods and break the cycle of poverty.
- Clients with group loans report a better experience with their Financial Service Provider (FSP) than those with individual loans.
- The 60 Decibels Microfinance (MFI) Index is a groundbreaking financial inclusion initiative that exists to measure and benchmark the impact of the microfinance industry – providing high-quality, comparable social performance data for Africa, Asia and Latin America.
- More info on the 3 MFI Index data tools can be found at https://60decibels.com/insights/mfi-data/ .
- Full details of the winners and award criteria can be found at https://60decibels.com/mfi-awards/ .