Source: Microfinance Information eXchange (MIX).
Original press release available here.
LIMA, February 28 – The Microfinance Information eXchange (MIX) announced the release of the English version of the 2006 Benchmarking Microfinance in Mexico Report, previously only available in Spanish. The report, a result of the partnership between MIX and the Mexican microfinance network ProDesarrollo, is the first of its kind to compare the performance of microfinance institutions in Mexico with their peers in the Latin America region, as well as with each other. Thirty microfinance institutions are reviewed, the largest sample collected to date for the country.
The report is divided into two sections. In the first section, the authors examine microfinance in the context of the local market, reviewing the development of the microfinance sector as well as challenges microfinance providers face. The second section presents the benchmarks, analyzing Mexican MFI performance against the rest of the Latin America market and comparing the 30 MFI’s against each other.
As the benchmark reports indicates, the Mexican market is one of the most dynamic in the Latin America and Caribbean region, with rapid growth and high profitability. However, microfinance providers do face obstacles, such as high interest rates and cost structures. The authors explore the reasons behind the high interest rates and other issues unique to the region and include detailed explanations of the particular costs facing microfinance institutions in Mexico.
ProDesarrollo represents the largest organized group of Mexican MFIs in existence (52 affiliated institutions) and disseminates its members’ performance information on a large scale throughout the country. ProDesarrollo and MIX will work together to strengthen national, regional and global performance monitoring and transparency initiatives to increase analysis and dissemination of information both locally in Mexico and internationally.
The Microfinance Information eXchange, Inc. (MIX) is the leading provider of business information and data services for the microfinance industry. Dedicated to strengthening the microfinance sector by promoting transparency, MIX provides detailed performance and financial information on microfinance institutions, investors, networks and service providers associated with the industry.
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