MICROCAPITAL BRIEF: CGAP (Consultative Group to Assist the Poor) Calls on Funders to Join SmartAid 2011, An Index of Microfinance Support Efficacy

CGAP (Consultative Group to Assist the Poor) has recently announced the release of SmartAid 2011, an index that measures and rates the way microfinance funders support microfinance. Twenty-nine development institutions endorsed the creation of SmartAid in 2006, citing the need for a common, comprehensive evaluation of development organizations and their strategies. SmartAid is meant to assess whether organizations have practical missions, employ adequately trained staff, adhere to transparency and use proper funding tools to support microfinance projects.

Those that choose to participate have until November 12, 2010, to submit their applications in line with the SmartAid 2011 Submission Guide. Participants will receive a report with a score and a description of strengths and weaknesses. The results will also compare funders relative to one another, creating an incentive for them to improve [1].

About CGAP (Consultative Group to Assist the Poor): CGAP Housed at the World Bank Group, CGAP (Consultative Group to Assist the Poor) is an independent policy and research center dedicated to providing financial access for the world’s poor. CGAP is supported by over thirty 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.

By Diana Baide, Research Assistant

Sources and Additional Sources:

[1] CGAP. “What is SmartAid?”

http://www.cgap.org/p/site/c/template.rc/1.11.7956/

CGAP. SmartAid for Microfinance Index 2011: Submission Guide.

http://www.cgap.org/p/site/c/template.rc/1.9.46305/

MicroCapital’s Microfinance Universe profile:

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CGAP+(Consultative+Group+to+Assist+the+Poor)

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