New Publication: Microfinance – Revolution or Footnote

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Should proponents of microfinance claim victory and go home? Has its image bottomed out? What can microfinance still accomplish? The new paper, “Microfinance: Revolution or Footnote?,” examines these key questions as it looks at the evolution of the microfinance sector since its inception more than 40 years ago and what lessons can be extracted going forward for microfinance and impact investing more broadly.

This paper draws on the comprehensive discussions held at a workshop at Lehigh University where thirty-four leaders from the microfinance community—operators, investors, academics, and analysts and representatives of the broader impact investing and financial inclusion communities — came together to bring varied perspectives to bear on key questions raised by the successes and shortfalls of microfinance and to articulate challenges that lie ahead.