Microfinance is a powerful means of empowering poor and vulnerable people to improve their families’ standard of living. We are proud of our programs, but they can always improve. That’s why we’re so excited about a new initiative CRS is working on with the Grameen Foundation and other partners in Africa. The Progress out of Poverty IndexTM is a simple and accurate tool that measures poverty levels of groups and individuals. Using the PPI, microfinance institutions can better determine their clients’ needs, which programs are most effective, how quickly clients leave poverty, and what helps them to move out of poverty faster.
Work on this initiative is progressing nicely. We’ve just received work that CRS is working with a partner, the Senegal National Microfinance Association, that is reaching beyond its borders, training practitioners from Uganda and Kenya in the Progress out of Poverty Index methodology. http://www.progressoutofpoverty.org/blog/apsfd-training-kenya This collaboration represents an important transfer of knowledge that will help improve the effectiveness of microfinance in these East African nations.
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