MICROCAPITAL BRIEF: CFI at Accion, e-MFP, SPTF Launch COVID-19 Discussion Forum for Financial Inclusion Actors

Financial inclusion practitioners, investors and others in the sector are invited to visit https://www.covid-finclusion.org/ to discuss how their organizations are responding to the COVID-19 pandemic as well as to post and find articles on the topic. The creators of the forum are the Center for Financial Inclusion, a program of US-based NGO Accion, and two nonprofit membership networks, the Luxembourg-based European Microfinance Platform (e-MFP) and the US-based Social Performance Task Force (SPTF).

Founded in 2008, the Center for Financial Inclusion works with microfinance practitioners, regulators, banks, investors and academics in an effort to increase financial inclusion and promote client protection by connecting the microfinance community to capital markets, technology and advisory services. During 2018, Accion expended USD 6.3 million to support the center. Accion has 110 partner microfinance institutions (MFIs) providing financial services to entrepreneurs in 50 countries in Africa, the Americas and Asia. As of 2018, Accion had total assets of USD 345 million.

In partnership with its 130 members, e-MFP operates a range of Action Groups, publishes research and hosts the annual European Microfinance Week, the next iteration of which will run from November 18 through November 20, 2020. This event includes the presentation of the European Microfinance Award, which has a top prize of EUR 100,000 (USD 110,000) and is jointly organised by the Luxembourg Ministry of Foreign and European Affairs, e-MFP and the Inclusive Finance Network Luxembourg.

SPTF, founded in 2005, works to improve the social performance management (SPM) of microfinance institutions. SPM refers to the systems that organizations use to achieve their social goals, such as improving clients’ well-being. Relevant strategies include defining and monitoring social goals, developing client-centric products and services, treating clients and employees responsibly, and balancing social and financial performance. For the year 2018, the NGO reported revenue of USD 3.9 million.

Sources and Additional Resources

Forum website
https://www.covid-finclusion.org

CFI homepage
https://www.centerforfinancialinclusion.org

European Microfinance Platform homepage
http://www.e-mfp.eu

SPTF homepage
https://www.sptf.info

SPTF financial data
https://www.irs.gov/charities-non-profits/exempt-organizations-business-master-file-extract-eo-bmf

More news on COVID-19
https://www.microcapital.org/?s=covid

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