Money with a Mission Volume 1: Microfinance and Poverty Reduction

This book presents the findings of an action research programme into how far poverty-oriented microfinance institutions (MFIs) in Africa, Asia, and Latin America are contributing to global poverty reduction, and how they can do so more effectively.Martin Greeley reviews evidence on their success in reaching poorer clients and improving the average income and wealth of their clients. Naila Kabeer reviews evidence on performance against a wider array of indicators, including women’s empowerment, citizenship rights, and social inclusion. Susan Johnson is more cautious, suggesting that the contribution of MFIs to the overall growth of financial services in selected parts of Africa and India remains small. James Copestake reviews evidence on the organizational factors that influence achievement of MFIs’ social as well as financial goals, as well as progress in routinely monitoring and managing social performance.This covers how MFIs can manage their ‘double bottom lines’ more effectively, as well as what public and private investors in microfinance can do to help them. The bigger challenge, linking up with the wider movement for corporate social responsibility, is to find ways to do so across the entire financial sector.

Susan Johnson is Lecturer in International Development, University of Bath. She previously worked for ActionAid and has researched and written on impact assessment in microfinance mainly in Africa.

Naila Kabeer , a Professorial Fellow at the Institute of Development Studies, University of Sussex, is a well-respected academic working in the fields of poverty, economics, gender, and social capital.

Anton Simanowitz has been influential since the late 1990s as a practitioner and thought leader in the field of microfinance and social enterprise. He works globally with practitioners, investors, technical assistance providers and policy makers to improve the effectiveness of microfinance and social enterprises in delivering positive social outcomes.

James Copestake is a Development Economist with twenty years’ experience researching microfinance and poverty (in South Asia, Africa, and Latin America), including five years as one of the coordinators of "Imp-Act" a global program of action-research into improving the impact of microfinance on poverty.

Martin Greely is a Fellow at the Institute of Development Studies, University of Sussex, UK. He has worked on rural development for 30 years with extensive engagement on microfinance.