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Unlock the transformative power of microfinance for global poverty reduction.This insightful title explores how to build inclusive financial systems that empower the poor and drive economic growth in developing countries.Drawing on a decade of CGAP experience, it offers a comprehensive framework for expanding access to financial services for all.

In Russia, small-scale entrepreneurship has emerged in response to the collapse of state-ownership and unemployment in the early 1990s. Small businesses typically lack adequate collateral and credit history, making them “unbankable” by the mainstream financial sector. To fund their businesses, micro-entrepreneurs are forced to rely on funds from family and friends, or money lenders. Microfinance institutions of four types have emerged to meet the unfulfilled financing needs of micro-entrepreneurs: commercial banks, specialized NGO-type microfinance institutions, membership-based institutions (such as rural cooperatives and credits unions), and public funds. All four types have enjoyed significant growth in Russia in the past five years, but the industry is still at an early stage of development. Demand appears to far outweigh supply. Microfinance in Russia provides an overview of microfinance in Russia to date, presenting industry trends and identifying key challenges to sustainable growth of the industry.

Given the immense need for access to all financial services by low-income people, this book provides a practical guide for practitioners, regulators, donors, investors, and academics involved with credit-focused MFIs contemplating becoming licensed as regulated deposit-taking financial intermediaries.

This book focuses on how the demand for microfinance can be met on a global scale. It documents the contributions of institutions and of people who have led the development of commercial finance for the poor, and it analyzes the principles on which the microfinance revolution is based. In sum, this work offers a detailed overview of the development of microfinance over the past 20 years; a global view of microfinance in the developing world (largely excluding Eastern Europe); a thesis on the future path of microfinance; a coherent theory about microfinance--why it works when so many other development interventions fail; detail on a number of important microfinance topics--such as informal moneylending and savings; an important study on, and lessons from Indonesia, with detailed analysis of Bank Rakyat Indonesia; and, brief studies of many other microfinance institutions in Africa, Asia, and Latin America.

For three decades microfinance has rapidly expanded around the globe. The recent global crisis was feared to have stopped, if not reversed, this process. CGAP reported in 2009 that the microcredit portfolios of many MFIs \"are stagnant or shrinking\". This study is based on the hypothesis that savings-led MFIs tend to be resilient to such crises, presenting the units of Bank Rakyat Indonesia (BRI) as a case. During the 1970s the units served as channels for subsidized credit. A global crisis in 1982 forced the bank to either close or reform them. With new savings and credit products at market rates of interest, they grew into the largest provider of microfinance. When crisis hit in 1997/98 and again in 2008/09, they proved resilient. Moreover, in 1998 they inspired the restructuring of insolvent BRI, now the most profitable bank with the widest (inclusive) outreach in Indonesia. Pendant trois décennies, la micro-finance a connu une expansion rapide dans le monde entier. On craignait que la récente crise globale puisse avoir conduit à un arrêt ou à une inversion du processus: CGAP a rapporté en 2009 que les portefeuilles de microcrédit de nombreuses IMFs \"sont stagnants ou en diminution\". Cette étude est basée sur l'hypothèse que les IMF qui sont conduites par l'épargne ont tendance à être resilientes à ces crises, et on présente les unités de la Banque Rakyat Indonesia (BRI) comme un cas. Durant les années 1970 les unités ont servi en tant que canaux de crédit subventionné. Une crise mondiale en 1982 contraint la banque à les fermer ou à les réformer. Avec de nouveaux produits d'épargne et de crédit à des taux d'intérêt du marché, elles sont devenues le plus grand fournisseur de micro-finance. Lorsque la crise a frappé en 1997/98 et en 2008/09 à nouveau, elles ont démontré être resilientes. Par ailleurs, en 1998 on a inspiré la restructuration de la BRI qui était insolvable; aujourd'hui c'est la banque la plus rentable avec la plus large (inclusivement) portée en Indonésie