Press Release: Global Financial Inclusion Initiative Expands to Collect Over 1 Million Unique Data Points in 2023
60 Decibels, a global impact measurement company, is excited to announce the 2023 Microfinance Index (MFI Index), gathering over 1 million unique data points. The Microfinance Index is a groundbreaking financial inclusion initiative that provides high-quality, comparable impact data for the microfinance industry, driven entirely by client voices.
The 2023 Microfinance Index will include data from more than 110 participating microfinance institutions (MFIs) and is supported by 32 Partners, including Abler Nordic, Accion, Advans Group, ASN Impact Investors, Baobab Group, BRAC, Ceniarth Group, Developing World Markets, Enabling Qapital, FinnFund, FMO, Global Partnerships, Gojo, Grameen Crédit Agricole Foundation, HOPE International, International Solidarity for Development and Investment (SIDI), Invest In Visions, Kiva, MCE Social Capital, Mercy Corps, Opportunity International, Pro Mujer, Proparco, Social Performance Task Force (SPTF), Triodos Investment Management, Symbiotics, Temasek Trust, Tipping Point Fund on Impact Investing, TripleJump, Vision Fund International, and WaterEquity.
The Index is designed to complement and integrate with existing frameworks and standards in microfinance, impact investing, and international development. Participation in the MFI Index provides MFIs and investors with feedback on the practices recommended by SPTF and CERISE in the Universal Standards and the Client Protection Principles, as well as the SDG Impact Standards. The 2023 MFI Index provides data aligned to IRIS+ metrics and the five dimensions of impact guidance established by the Impact Management Project.
This year’s survey will gather quantitative and qualitative data along six key dimensions of impact, including Access, Business Impact, Household Impact, Client Protection, Resilience, Agency. The 2023 edition will also include additional segmentation features such as lending methodology, gender, and client tenure. The resulting insights will be shared in a public report, providing essential insight into sector-wide performance on these key outcomes. You can also have the opportunity to analyze the 60 Decibels data in three ways: a regionally disaggregated dashboard demonstrating results across all indicators in the Index, geographic snapshots, or your own custom insights generation. Learn more about the 60 Decibels Microfinance products here.
In addition to the deeper insights offered by this year’s Microfinance Index, 60 Decibels will also provide Sub-Saharan Africa, Asia, and Latin America regional benchmarks, and country benchmarks in Cambodia, Ecuador, India, Indonesia, and Uganda. Enabling MFIs and their funders to understand performance relative to their peers in their markets, this data will offer invaluable insights for impact management and evaluation at both the institutional and sector levels.
“We are thrilled to continue the work of the Microfinance Index, listening to end clients and providing data-driven insights to the microfinance industry,” said Sasha Dichter, CEO and co-founder of 60 Decibels. “The expansion of the Microfinance Index this year to more than 110 participating MFIs and the collection of over 1 million unique data points allows us to provide even deeper insights into customer outcomes and create benchmarks that will drive greater impact for MFIs and investors.”
“This data is like gold for us,” reported Calum Scott, Global Impact Director at Opportunity International Australia. “We are proud to continue our support for the Microfinance Index in 2023, as it remains an essential tool for us to understand the impact of our investments and to improve our practices. By listening to the voices of our microfinance clients, we gain a better understanding of their needs and can work to ensure that our support truly serves those who need it most.”
To learn more and sign up to receive the 2023 Microfinance Index, please visit https://60decibels.com/mfi-index
Photo courtesy of Peter Haden.