Speakers Corner #11: Building the Assets of the Poorest: Savings-Led Financial Services took place on June 20-22, 2006.
For years groups like CARE, Oxfam, Catholic Relief Services and Pact and thousands of NGOs in India and elsewhere have pioneered a savings led approach to providing financial services to the poor, especially the rural poor outside the reach of traditional microfinance institution. In recent years the methodologies have gathered more attention as they prove effective at reaching the poorest and most marginalized, particularly in Africa and India. New data shows that savings led approaches can be effective at reaching special populations, such as people living with HIV/AIDS and orphans and vulnerable children.
This Speakers Corner addressed a number of issues, including:
- Decentralized approaches to providing financial services to the poor
- MRAA, Innovations, and Indicators
- What if there were No MFI's to Provide Microcredit?
The first day's discussion was led by Jeff Ashe (Oxfam America) and focused on whether or not this approach was appropriate for serving the vast numbers that traditional microfinance has not reached and is unlikely to reach or serve. On Day Two, Carrie Keju (PACT) led the discussion of the Microenterprise Results and Accountability Act, examined approach innovations (particularly as regards the MRAA), and addressed the need for industry-wide standards and ratios for savings-led financial services. On Day Three, Lauren Hendricks (CARE) led discussion that focused on women and the targeting of special populations, such as people living with HIV/AIDS.
Related