MICROFINANCE PUBLICATION ROUND-UP: Trends in International Funding for Financial Inclusion; Inclusive Finance in India; Financial Regulation for Inclusion and Development in Latin America

“Current Trends in International Funding for Financial Inclusion;” by M. Soursourian, E. Dashi and E. Dokle; published by CGAP (Consultative Group to Assist the Poor); December 2015; 4 pages; available at: http://www.cgap.org/sites/default/files/Brief-Current-Trends-in-International-Funding-Dec-2015.pdf

This report is based on results from the “2015 Cross-Border Funder Survey”, the latest edition of a series that has been conducted by CGAP (Consultative Group to Assist the Poor) annually since 2008 to evaluate investments that international funders place in the financial inclusion sector. After increasing in previous years, financial inclusion funding remained stable at USD 31 billion in 2014. Of this amount, USD 16 billion was invested in retail-level financial service providers, mainly through debt. Investments in the Middle East and North Africa and digital financial services worldwide have increased. Also, funders stated that financial service providers will remain an important target of investment and that they will increase their investments in payment systems, consumer protection and services in sub-Saharan Africa.

“Inclusive Finance India Report 2015,” M. S. Sriram;, published by Sage Impact, December 2015, 160 pages, available for purchase at: http://www.sagepub.in/books/Book251468?subject=M00&sortBy=defaultPubDate%20desc&fs=1#tabview=title

The Inclusive Finance India Report 2015 is the ninth annual issue in a series published by Sage Impact, an Indian unit of US-based Sage Publications. This issues’ research and discussion centers on “customer and back-end technology solutions” as well as the various parties acting in the financial inclusion landscape, such as microfinance institutions, regional banks, rural banks, cooperative banks and the postal network.

“Progreso: Responsible Finance for Inclusion and Development,” by J. M. Flores Moreno, published by BBVA MicroFinanzas, December 2015, available at: http://progresomicrofinanzas.org/

This fifth issue of BBVA’s legal magazine contains legislative and regulatory news on microfinance in Colombia, Dominican Republic, El Salvador, Paraguay and Peru. In it, Javier M. Flores Moreno, the CEO of the BBVA Microfinance Foundation, analyzes factors that impact poverty. The issue also contains an interview with Ricardo Hausmann, Professor of the Practice of Economic Development at US-based Harvard University, in which he emphasizes the importance of the sharing of knowledge among individuals for a country’s economic and social development. The magazine concludes with two microfinance theses. The first article focuses on behavioral bottlenecks that hinder beneficial savings and how mental accounting can remove these bottlenecks, based on a case study of the BBVA Foundation’s financial education program in El Salvador. The second dissertation uses surveys carried out by the Inter-American Development Bank in Lima, Peru and Mexico City, Mexico, regarding how personal factors such as self-confidence and motivation can affect the amount people save.

By Kevin van den Brink, Research Associate

About Fundación BBVA Microfinanzas

Fundación BBVA Microfinanzas (BBVA Microfinance Foundation) is a Spanish nonprofit organization that was created in May 2007 by BBVA, a Spanish bank that reported total assets of EUR 669 billion (USD 730 billion) as of June 30, 2015. The goal of the foundation is to boost the economic and social development of disadvantaged people through access to productive microfinance. Fundación BBVA Microfinanzas is building a network of microfinance institutions (MFIs), which consists of eight MFIs as of 2014 in: Argentina, Chile, Colombia, Dominican Republic, Panama, Peru and Puerto Rico. As of September 2015, the MFIs reported a total of 504 branches and an outstanding credit portfolio of USD 1 billion serving approximately 1.7 million customers.

About CGAP (Consultative Group to Assist the Poor)

CGAP (Consultative Group to Assist the Poor) is a US-based nonprofit policy and research center dedicated to increasing financial access worldwide. It is supported by approximately 40 development agencies and private foundations in its mission to provide market intelligence, promote standards and offer advisory services to governments, microfinance providers, donors and investors. As of December 2014, CGAP reported donor contributions totaling USD 23 million and operating expenses of USD 22 million. As of the same date, the cash balance across all CGAP trust fund instruments was USD 29 million. CGAP is co-located with the offices of the World Bank Group in Washington DC.

Sources and Additional Resources

[1] Fundacion Microfinanzas BBVA, News, “The Foundation publishes fifth issue of its legal magazine on the microfinance sector

[2] CGAP Microfinance Gateway, News, “Release of the Inclusive Finance India Report 2015

[3] CGAP Microfinance Gateway, News, “Current Trends in International Funding for Financial Inclusion

MicroCapital Universe Profile: Fundacion Microfinanzas BBVA

MicroCapital Universe Profile: CGAP

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