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Purpose This study aims to investigate whether lending to women decreases sustainability of microfinance institutions (MFIs) and how regional characteristics where MFIs are located moderate this effect. Design/methodology/approach Financial and operating data of MFIs and national cultures are available from the MIX Market database and the Hofstede’s publications. These data are analyzed by using multiple regression models with the financial self-sustainability, proportion of women borrowers in the MFI’s lending portfolio, and dimensions of national culture as dependent, explanatory and moderating variables. Findings Lending to women tends to reduce sustainability of MFIs. This negative effect is more pronounced in countries ranking higher on power distance and individualism, but the effect is less serious in countries ranking higher on masculinity and uncertainty avoidance. Originality/value Many studies demonstrate that MFIs improve their repayment rates by targeting women borrowers. The increase in repayment rates, however, may not always improve their sustainability. Further, as microfinance industry increasingly diversifies geographically, regional characteristics where MFIs are located play a vital contingent role in their sustainability.

While there is considerable expansion of microfinance institutions (MFIs) in the developing countries, there is a paucity of literature that examines the determinants of their Financial Performance (FP) among the Least Developed Countries (LDCs). This article seeks to investigate the determinants of FP of MFIs in Bangladesh over the period 2007–2013. Using two different measures of financial performance (portfolio yield and profit margin), the results indicate that the depth and breadth of social outreach can improve FP of MFIs. In particular, targeting women borrowers, increasing the average loan per borrower and increasing the number of active borrowers can contribute significantly to enhance the FP of MFIs. The results also show that, increasing savings and reducing operating expense can also contribute to increase MFIs’s financial performance.

This paper examines the impact of women borrowers' culture on the financial efficiency of microfinance institutions (MFIs) between the years 2011 to 2019. The sample data consisted of 90 MFIs from ASEAN-4 countries. As the first stage analysis, data envelopment analysis (DEA) was employed to determine the score of financial efficiency for the MFIs. In the second stage, Multivariate Panel Regression Analysis were used to examine the impact of women borrower on the level of financial efficiency of the MFIs. The findings reveal that Cambodia has the highest financial efficiency score in ASEAN 4. This indicates that the MFIs in Cambodia are sustainable in providing financial services to the poor in the long run. Moreover, the findings also found a positive relationship between women borrowers culture and the efficiency of the MFIs, which implies that women borrowers reduce the risk of default, thus confirming that women have better loan repayment rates than male borrowers. The outputs from this study provide new insights for the stakeholder of the MFIs as well as policymakers to develop a strategy in order to promote the continuous development of the MFIs.

Empowering Women in Vanuatu: Analyzing Challenges to Economic Participation Women in Vanuatu examines the barriers hindering women's full economic participation in this traditional, patriarchal society.Despite increasing involvement in the private sector, women face limited government support and discriminatory legal frameworks.

Fostering the entrepreneurship of women is important for Pakistan's economic growth and inclusion agenda, and access to financial services is an important component of starting and growing a business for women entrepreneurs. Most women?owned businesses are small, household?based cottage industries; microfinance products should be a natural source of start?up and working capital finance for this clientele. Microfinance portfolio data suggest that although Pakistan's sector has shown improvement in reaching women, it still lags its regional peers, only 59 percent of microfinance clients are women. The original purpose of this work was to determine whether women entrepreneurs have access to, and are using, microfinance loans as a source of finance for their businesses. However, the findings of the report go beyond the narrow objective of understanding whether microfinance institutions (MFIs) are reaching Pakistan's businesswomen. As the research unfolded, the evidence suggested that not only are women entrepreneurs not being served, but also that the outreach to women in general is potentially more limited than previously assumed and that the issues of consumer protection and responsible lending practices in Pakistan might merit further exploration. The report raises and addresses two distinct issues. First, some evidence suggests that women are often not the final users of loans, but rather are conduits to male household members. The report documents findings that suggest that the practice of passing on loans to male household members is potentially quite widespread; women may be bearing all the transaction costs and risks of accessing loans, but are not the final beneficiaries. Second, a very low proportion of female microfinance clients are entrepreneurs. The report explores why businesswomen in Pakistan may not be using microfinance products to meet their startup and working capital requirements, in spite of identifying access to finance as a key constraint to their business operations. The report focuses on products, services, policies, and other elements of the business model of microfinance in Pakistan that affect both demand for and access to microfinance by women borrowers, some of whom fall into the narrower category of entrepreneurs.

Foreign direct investment and private capital flows are highly concentrated geographically, with almost half of them reaching five top destinations. These flows tend to evade many high-risk countries. Regulatory and contractual risks, particularly in infrastructure, have inhibited investments in many parts of the developing world. A core objective of the World Bank Group (WBG) has been to support the flow of private investment for development; guarantees and insurance have been among the instruments that the WBG has used to pursue this objective. This study examines three main questions: • Should the WBG be in the guarantee business? • Have guarantee instruments in the three WBG institutions been used to their potential as reflected in WBG expectations and perceived demand? • Is the WBG appropriately organized to deliver its range of guarantee products in an effective and efficient manner?

This study, conducted in Taraba, Kebbi, Kwara, Ebonyi, Akwa-Ibom, and Ekiti states, Nigeria, explored the structure of the rice value chain (RVC) and gender dynamics therein using a qualitative methodology. Data was collected through in-depth interviews (IDI) and focus group discussions (FGDs) and analyzed using content analysis. The study was grounded in the framework of African feminism. The findings revealed that the RVC is organized along gender lines, with men predominantly involved in rice farming and large-scale rice processing in most of the communities studied. Hegemonic masculinity rooted in gender norms and roles played a significant role in shaping the structure and ‘genderization’ within the RVC. The results further indicated that female rice farmers and processors faced specific barriers in accessing government-supported interventions in the RVC. The study concluded that establishing female-only rice farmer associations across Nigeria or women wings in the existing associations is crucial for increasing women’s participation in government-supported programs within the RVC. Additionally, relaxing the requirements for small and medium-scale female rice farmers and processors would further boost their involvement, ultimately enhancing agricultural productivity and food security in Nigeria.

There is evidence of a gender gap in access to finance. In this paper, we test the hypothesis that corruption discourages more female than male entrepreneurs from applying for credit. We use data on access to credit and corruption at the firm level for a large dataset of firms from 68 countries worldwide. We demonstrate that female entrepreneurs are more discouraged by corruption to ask for credit than male borrowers. We find evidence for two explanations for the gendered impact of corruption on borrower discouragement: women have less experience in management than men and as such can have less experience to deal with corruption, and gender inequality in society enhances the discouragement of female borrowers. Thus, our findings provide evidence that corruption enhances the gender gap in access to finance, enhancing gender inequality in participation in economic activity.

East Asia and the Pacific is a region of dynamic growth. Women have contributed significantly to this growth and have benefited from it through active participation in the labor market. However, women are still disproportionately represented in the informal sector and in low paid work. Efforts to identify barriers to women's business and entrepreneurial activities in the region are critical not only to facilitate inclusive growth in a national context but also to counter the increasing trend of female migratory flows in the region. This report highlights' both the challenges and the economic opportunities for businesswomen in the region offers some useful potential pointers for reform.

This report brings together the results of an eight-part series of presentations by leading experts in issues directly related to microfinance institutional sustainability. It is intended for microfinance institution (MFI) board members, managers, and staff members as well as for government regulators, supervisors, and donor staff members. The first four chapters include topics in risk management: (1) risk management systems, (2) good governance, (3) interest rates, and (4) micro-insurance. The last four chapters include four topics in new product development and efficient delivery methodologies: (5) housing microfinance, (6) micro-leasing, (7) disaster preparedness products and systems, and (8) new technologies. The objectives of the series were as follows: i) to strengthen MFIs by disseminating innovative approaches in risk management, cost control, governance, and new technologies; ii) to promote a South-South exchange of experiences and lessons learned; iii) to promote greater ties among the MFIs in the region and between MFIs and government supervisors and regulators; and iv) to highlight the Bank's ability to mobilize international technical expertise in microfinance.