MICROCAPITAL BRIEF: India Becomes Supporting Member of CGAP (Consultative Group to Assist the Poor), Microfinance Think Tank Housed in World Bank

India has become a supporting member of CGAP (Consultative Group to Assist the Poor), a US-based nonprofit policy and research agency. The announcement came not long after Prime Minister Manmohan Singh announced an aid package of USD 6 billion to Africa [1].

CGAP provides advisory services, training, research and consensus building on development standards for microfinance. Out of 33 donors, as of 2011, CGAP has 24 members that contribute unrestricted funds to the agency. For the year 2011, CGAP reported total assets of USD 24.4 million [2] [3].

For the year 2010, 93 microfinance institutions (MFIs) in India report to the US-based nonprofit Microfinance Information Exchange (MIX) an aggregate gross loan portfolio of USD 5.2 billion outstanding to approximately 31.7 million borrowers and total aggregate deposits of USD 300 million.

By Brendan Millan, Research Associate

About CGAP (Consultative Group to Assist the Poor): Created in 1995, CGAP (Consultative Group to Assist the Poor) is a US-based nonprofit policy and research center dedicated to providing financial access to poor people worldwide. CGAP is supported by 33 development agencies and private foundations. Its mission is to provide market intelligence, to promote standards and to offer advisory services to governments, microfinance providers, donors and investors. For the year 2011, CGAP reported total assets of USD 24.4 million.

Sources and Resources:

[1] The Times of India: “IndiaBecomes Member of CGAP.”, http://timesofindia.indiatimes.com/business/india-business/India-becomes-member-of-CGAP/articleshow/12560874.cms

[2] CGAP (Consultative Group to Assist the Poor): Annual Report 2011.”, http://www.cgap.org/gm/document-1.9.56347/CGAPAnRpt2011.pdf

[3] Information submitted to MicroCapital by CGAP

MicroCapital.org Article, March 26, 2012, “Savings Continue to Dominate; Aspirations for Financial Inclusion in Africa”, https://www.microcapital.org/microcapital-brief-savings-continue-to-dominate-aspirations-for-financial-inclusion-in-africa/

MicroCapital Universe Profile: CGAP (Consultative Group to Assist the Poor), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+%28Consultative+Group+to+Assist+the+Poor%29

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

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