MICROCAPITAL BRIEF: 350 Microfinance Institutions (MFIs) Report to Microfinance Information Exchange (MIX) Social Performance Reporting Awards

The Microfinance Information Exchange (MIX), the microfinance data clearinghouse, recently argued that microfinance institutions (MFIs) around the world have increased their commitment to transparency in social performance based on a surge in applications to the MIX’s 2010 Social Performance Reporting Awards, which acknowledge openness in reporting. The awards do not judge social performance itself. More than 350 MFIs submitted applications to the MIX in 2010, as compared with 200 in 2009. The greatest numerical growth came from institutions in Latin America, which increased their participation from 81 in 2009 to 157 applications in 2010, followed by Asia, which increased from 41 applications in 2009 to 90 in 2010.

The Social Performance Reporting Awards bestow a “Certificate” to those MFIs that complete the Social Performance Standards Report, a “Silver Award” to those that also provide data on poverty measurement, and a “Gold Award” to those that additionally “have a social rating that includes auditing of the poverty tool used by the MFI.” In total for 2010, 173 MFIs that applied have received recognition, with 19 receiving Gold Awards, 32 receiving Silver Awards and 122 receiving Certificates. Additionally, 13 microfinance networks received certificates for having the majority of their affiliates report their social performance to the MIX, 5 of which were further recognized for the “strong social reporting of their affiliates.”

About Microfinance Information Exchange (MIX): Established in 2002, Microfinance Information Exchange (MIX) is a nonprofit organization with headquarters in Washington, DC, and regional offices in Peru, Morocco and India. It is a global, web-based, microfinance information platform. MIX provides detailed financial and social performance information from microfinance institutions (MFIs), as well as business information from market facilitators and donor organizations and investors in microfinance. As of 2010, MIX Market, the arm of MIX that reviews and analyzes MFI information, provides data on over 1,800 MFIs, over 100 investors and nearly 200 partners. MIX was founded by CGAP (Consultative Group to Assist the Poor) and is sponsored by Citi Foundation, Deutsche Bank Americas Foundation, International Fund for Agricultural Development (IFAD), the Bill & Melinda Gates Foundation and Omidyar Network.

By Christopher Maggio, Research Associate

[1] Microfinance Information Exchange Press Release: “Microfinance Institutions Responding to Call For Better Social Reporting”: http://www.themix.org/press-release/microfinance-institutions-responding-call-better-social-reporting

MICROCAPITAL.ORG STORY: The 2009 Social Performance Reporting Awards for Microfinance Are In: https://www.microcapital.org/microcapital-brief-microfinance-information-exchange-mix-seeks-nominations-for-social-performance-reporting-awards-2010/

MicroCapital’s Microfinance Universe profile: Microfinance Information Exchange (MIX): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microfinance+Information+Exchange+(MIX)

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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