2010 Funder Survey Results
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2010 Funder Survey Results 2010 Funder Survey Results Presentation Transcript

  • Cross-Border Funding for Microfinance Results of the CGAP Funding Surveys 2010
  • Outline  What is cross-border funding?  About the CGAP surveys  Global results  Regional snapshots  Annexes  Survey participants  Methodology and definitions
  • What is cross-border funding? Cross-border Funding Local Funding Public Private Government Local Donors and Donors and funds Deposits commercial Investors Investors (State (Individual, Instituti sources (Foundations, Insti banks, Apexes, onal) (Commercial (Multilaterals, Bilat Independent tutional and Retail banks erals, DFIs) programs) Investors) Private investors) Microfinance Investment Intermediaries (MIIs) Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy)
  • About the CGAP funding surveys Who Over 150 funders, including public and private funders andparticipates? microfinance investment intermediaries. How The CGAP surveys capture between 85 and 95% of totalrepresentative cross-border funding to microfinance. are the data? Commitments: All funds set aside for microfinance, whether or not disbursed  stock of funding at a given momentWhat are the (December 2009). mainindicators? Disbursements: All funds disbursed in the survey year  flow of funds in 2009.Where can I find more Visit www.cgap.org/funders or contact Barbara Gähwilerinformation? at bgahwiler@worldbank.org
  • Global Results
  • Overview on cross-border funding Total Commitments to Microfinance as of December 2009: $21.3 billion1) 41 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $14.6 billion $6.7 billion 109 Microfinance $11 Investment $0.9 bln2) $2.4 bln Intermediaries $5.7 bln bln2) (MIIs) Apexes and $8.1 $1.2 bln other bln $0.1 bln Intermediaries No data Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy)1) Amounts based on data submitted by 61 funders and 90 MIIs.2) Includes funding through governments.
  • Commitments growing, but at slower pace +17% Committed Amount (million USD) 21 313 (100%) Annual Growth Rates for 2008 to 2009 +22% +21% 6 188 (29%) +1% 4 724 (22%) 4 064 (19%) +22% +19% +4% +38% 2 544 (12%) 1 546 (7%) 787 (4%) 1 461 (7%) Total East Asia & Eastern Europe Latin America Middle East South Asia Sub-Saharan Multi-Region the Pacific & Central Asia & the Caribbean & North Africa (SA) Africa (SSA) (EAP) (ECA) (LAC) (MENA) Amounts based on data submitted by 61 funders and 90 MIVs• 150 funders reported $21.3 billion committed to microfinance as of December 2009• Commitments grew by 17% in 2009 compared to 30% in 2008• At least $3.2 billion was disbursed in 2009
  • Public funding dominates… Commitments by Type of Funder (%) 13% 16% 31% 32% 25% 37% 87% 40% 46% 84% 75% 69% 68% 63% 60% 54% Total EAP ECA LAC MENA SA SSA Multi-Region Public Funders Private FundersAmounts based on data submitted by 61 funders and 90 MIVs • Public funders provide 69% of total commitments to microfinance. • Only in LAC have private funders come close to rivaling public funding sources.
  • …but private funding growing faster Growth by Type of Funder 33% 32% 33% 28% 11% -7% -9% Total Public Multilateral Bilateral DFIs Total Private Foundations/NGOs Individual & Funders & UN Agencies Agencies Funders Institutional Investors Public Funders Private Funders Amounts based on data submitted by 61 funders and 90 MIVs• Private funders’ commitments grew by 33% globally in 2009, while public funders increased their commitments by only 11%.• Among public funders, multilateral and bilateral development agencies decreased their commitments compared to 2008, while DFIs increased their commitments by 29%.
  • Intermediaries channel half of funding Commitments by Funding Type 44% 75% 32% 55% 40% 55% 59% 64% 68% 60% 56% 45% 41% 45% 36% 25% Total EAP ECA LAC MENA SA SSA Multi-Region Direct IndirectData submitted by 58 funders and 90 MIVs• Indirect funding: $10.7 billion are channeled via intermediaries such as microfinance investment vehicles, holding companies, and apexes.• Direct funding: the remaining 55% go to the institution it is meant to support*. This can be a microfinance institution, a service provider at the market infrastructure level or a government.* Funds channelled through governments are accounted for in the direct funding
  • Capacity building represents 12% of commitments Commitments by Purpose 1% 12% 17% 9% 16% 12% 33% 24% 99% 88% 91% 88% 83% 84% 76% 67% Total EAP ECA LAC MENA SA SSA Multi-Region Onlending Capacity BuildingAmounts based on data submitted by 58 funders and 90 MIVs• 12% of commitments are dedicated to capacity building.• 70% of capacity building funds are used to support the retail level, 17% to strengthen the market infrastructure and 13% are used at the policy level.• Sub-Saharan Africa receives 33% of funding for capacity building and Latin America and the Caribbean 20%.
  • Equity funding on the rise, but debt remains high Commitments by Type of Direct Funding by Funding Instrument 4% 4% Other 21% 5% Guarantee 55% 45% Grant Equity 66% Debt Direct Indirect Based on data submitted by 58 funder and 90 MIVs• Debt remains the main financial instrument.• Equity investments have grown fast. Both private investors and DFIs, the main providers of equity funding, have increased their equity investments.
  • Top 5 Funders Worldwide % of Total Change Type Commitments in Rank 1 KfW DFI 12%  2 World Bank Multilateral Agency 7%  3 EBRD DFI 6%  4 AsDB Multilateral Agency 6%  5 IFC DFI 5%  All 5 36%
  • Regional Results
  • East Asia and the Pacific (EAP)
  • Cross-border funding to EAP Commitments to Microfinance for EAP as of December 2009: $1.5 billion* 27 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $0.95 billion $0.55 billion 42 Microfinance $0.94 bln $0.01 bln Investment $0.54 bln $0.01 bln Intermediaries (MIIs) Apexes Apexes $0.5 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy)* CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • China receives more than a third of funding to EAPCommitments by Country as of Dec. 2009, and 2008/2009 TrendCountry allocation is available for 63% of EAP commitments 2009 2008/2009 Commitments GrowthCambodia $100 to 300 mln ↓China $300 to 500 mln ↑↑Indonesia $100 to 300 mln ↑Lao PDR $2 to 50 mln ↑Malaysia <$2 mln →Marshall Islands <$2 mln →Mongolia $50 to 100 mln →Myanmar $2 to 50 mln ↑ <$2 mlnPapua New Guinea $2 to 50 mln →Philippines $50 to 100 mln ↓↓ $2 to 50 mlnSolomon Islands <$2 mln → $51 to 100 mlnThailand <$2 mln → $101 to 300 mlnTimor-Leste <$2 mln → $301 to 500 mlnVietnam $100 to 300 mln → ↑↑ increases, more than 20 mln ↑ increases, 5 to 20 mln → same or change less than 5 mln ↓ decreases, 5 to 20 mln ↓↓ decreases, more than 20 mln
  • Funders active in EAP Active Funders in EAPTop 5 Funders in EAP Multilateral & UN Agencies Bilateral Agencies Microfinance Investment Intermediaries (MIIs)% of Commitments to EAP AsDB AusAID KfW 11% EC CIDA Accion Gateway Lux MDF World Bank 10% IFAD Finland MoFA Advans MFLO-LC ILO GTZ Alterfin MicroCred Holding AsDB 6% UNCDF JICA ASN-Novib MicroCredit IFAD 6% World Bank Lux Dev BOLD I MicroVest I GTZ 5% Norad BOLD II Minlam Development Finance USAID BOMS I Oikocredit Institutions (DFIs) BOPEF Opportunity LGF AECID Foundations & NGOs Consorzio Etimos OTI AFD Proparco Citi Foundation CRESUD Planet MicroFund BIO Cordaid DBMDF respA GMF CDC Doen Foundation DBMF-1 respA MF DCA USAID Ford Foundation Dignity respA MLF EBRD Gates Foundation DMCF SNS EIB Grameen Foundation DWM MF SNS MF II FMO Hivos EMF Symbiotics DRF ICDF ICCO Finethic Triodos FSF IFC Omydiar Network GCMC Triodos MF KfW Oxfam Novib Grameen CAMF Triodos-Doen Norfund Rabobank Foundation Hivos-Triodos Wallberg GMF OPIC Whole Planet Foundation KCD Global XXEB
  • Eastern Europe and Central Asia (ECA)
  • Cross-border funding to ECA Commitments to Microfinance for ECA as of December 2009: $6.2 billion* 28 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $4.2 billion $2 billion 53 Microfinance $2.9 bln $1.3 bln Investment $1.98 bln $0.02 bln Intermediaries (MIIs) Apexes Apexes $3.2 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy) * CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • Commitments increased or stable in almost allcountriesCommitments by Country as of Dec. 2009, and 2008/2009 TrendCountry allocation is available for 46% of ECA commitments 2009 2008/2009 Commitments GrowthAlbania $50 to 100 mln →Armenia $100 to 300 mln ↑Azerbaijan $100 to 300 mln ↑↑Belarus $50 to 100 mln →BiH $100 to 300 mln ↑↑Bulgaria $300 to 500 mln →Georgia $100 to 300 mln ↑↑Kazakhstan $50 to 100 mln ↓↓Kosovo $50 to 100 mln ↑↑Kyrgyz Republic $50 to 100 mln ↑↑Macedonia $2 to 50 mln →Moldova $50 to 100 mln ↑Montenegro $2 to 50 mln ↑Poland $2 to 50 mln ↑↑Romania $100 to 300 mln → ↑↑ increases, more than 20 mln <$2mlnRussia $300 to 500 mln ↑↑ ↑ increases, 5 to 20 mln $2 to 50 mlnSerbia $100 to 300 mln ↑ → same or change less than 5 mln $51 to 100 mlnTajikistan $100 to 300 mln ↑ ↓ decreases, 5 to 20 mln $101 to 300 mlnTurkey $100 to 300 mln ↑↑Turkmenistan <$2 mln → ↓↓ decreases, more than 20 mln $301 to 500 mlnUkraine $100 to 300 mln ↑↑Uzbekistan $50 to 100 mln ↑↑
  • Funders active in ECA Active Funders in ECA Multilateral & UN Agencies Bilateral Agencies Microfinance Investment Intermediaries (MIIs)Top 5 Funders in ECA% of Commitments to ECA AsDB CIDA Access Holding MF Enhancement Facility St Honore KfW 21% EC DANIDA ASN-Novib MFLO-LC Symbiotics DRF EBRD 20% IFC 9% IFAD Finland MoFA BFSEF MFLO-Opportunity Triodos FSF EIB 4% ILO GTZ BOLD I MFLO-SubDebt Triodos MF FMO 3% IsDB MCC BOLD II MicroAccess2007 Triodos-Doen World Bank Norad BOMS I MicroCredit Wallberg GMF SDC Consorzio Etimos MicroVest I XXEB Development Finance USAID DBMDF MicroVest II Institutions (DFIs) DBMF-1 Minlam AECID Dignity Oikocredit AFD Proparco DMCF Opportunity LGF BIO Foundations & NGOs DWM MF OTI CDC Citi Foundation EFSE OXUS DCA USAID Cordaid EMF Planet MicroFund EBRD DOEN Foundation FINCA MF Procredit Holding EIB ICCO Finethic respA GMF Finnfund Gates Foundation GCMC respA MF FMO Grameen Foundation Grameen CAMF respA MLF ICDF Mastercard Foundation Hivos-Triodos Rural Impulse IFC Omydiar Network I&P ShoreCap KfW Oxfam Novib Impulse SIDI OPIC Rabobank Foundation Incofin SNS SIFEM Whole Planet Foundation KCD Global SNS MF II
  • Latin America and the Caribbean (LAC)
  • Cross-border funding to LAC Commitments to Microfinance for LAC as of December 2009: $4.7 billion* 32 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $2.5 billion $2.2 billion 67 Microfinance $2.1 bln $0.4 bln Investment $2.1 bln $0.1 bln Intermediaries (MIIs) Apexes Apexes $2.5 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy) * CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • Peru and Mexico receive more than a third of totalfunding to LAC 2009 2008/2009 Commitments by Country as of Dec. 2009, and 2008/2009 Trend Commitments GrowthArgentina $2 to 50 mln → Country allocation is available for 42% of LAC commitmentsBelize $2 to 50 mln →Bolivia $100 to 300 mln ↑Brazil $2 to 50 mln ↑Chile $50 to 100 mln →Colombia $100 to 300 mln →Costa Rica $2 to 50 mln ↑Cuba $2 to 50 mln →Dominican Republic to 300 mln $100 ↓Ecuador $100 to 300 mln →El Salvador $50 to 100 mln ↑Guatemala $2 to 50 mln ↓Guyana $2 to 50 mln →Haiti $2 to 50 mln ↑Honduras $50 to 100 mln →Jamaica $2 to 50 mln ↓ $2 to 50 mlnMexico $300 to 500 mln ↓↓ $51 to 100 mlnNicaragua $100 to 300 mln ↓ $101 to 300 mlnPanama $2 to 50 mln → $301 to 500 mlnParaguay $50 to 100 mln → ↑↑ increases, more than 20 mlnPeru $300 to 500 mln ↑↑ ↑ increases, 5 to 20 mlnSt. Kitts and Nevis mln <$2 →St. Vincent <$2 mln → → same or change less than 5 mlnSuriname $2 to 50 mln ↑ ↓ decreases, 5 to 20 mlnUruguay $2 to 50 mln → ↓↓ decreases, more than 20 mlnVenezuela $2 to 50 mln →
  • Funders active in LAC Active Funders in LAC Foundations & NGOs Bilateral Agencies Microfinance Investment Intermediaries (MIIs) Citi Foundation AusAID Accion AIM GMF Group Planet MicroFundTop 5 Funders in LAC Cordaid CIDA Accion Gateway GPMF 2005, 2006, 2008 Procredit Holding% of Commitments to LAC DOEN Foundation GTZ Alterfin Gray Ghost respA GMF KfW 10% Ford Foundation Italy MoFA ASN-Novib Hivos-Triodos respA MF AECID 9% Gates foundation JICA BBVA CODESPA I&P respA MLF World Bank 6% Grameen Foundation Lux Dev BOLD I Impulse Rural Impulse IFC 5% Hivos MCC BOLD II Incofin SIDI MIF IADB 4% ICCO Netherlands MoFA BOMS I KCD Global SNS MasterCard Foundation Norad BOPEF KCD Latinamerika SNS MF II Omydiar Network SDC Consorzio Etimos LocFund St Honore Oxfam Novib Sida CRESUD Lux MDF Symbiotics DRF Rabobank Foundation USAID DBMDF MF Enhancement Facility Triodos FSF Whole Planet Foundation DBMF-1 MFLO-LC Triodos MF DID-Partnership MFLO-SubDebt Triodos-Doen Development Finance Institutions (DFIs) Dignity MicroAccess2007 Unitus EF AECID ICDF DMCF MicroCred Holding Wallberg GMF AFD Proparco IFC DWM MF MicroCredit XXEB BIO IIC ELF MicroVentures CAF KfW EMF MicroVentures SICAR CDC MIF IADB FIG MicroVest I Multilateral DCA USAID Norfund FINCA MF Minlam & UN Agencies EIB OPIC Finethic NICA EC Finnfund SIFEM GCMC Oikocredit IFAD FMO Global MF equity fund OTI World Bank
  • Middle East and North Africa (MENA)
  • Cross-border funding to MENA Commitments to Microfinance for MENA as of December 2009: $0.8 billion* 21 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $0.7 billion $0.1 billion 16 Microfinance $0.67 bln $0.03 bln Investment $0.07 bln $0.03 bln Intermediaries (MIIs) Apexes Apexes $0.08 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy)* CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • Morocco and Egypt receive more than 60% of funding to MENA Commitments by Country as of Dec. 2009, and 2008/2009 Trend Country allocation is available for 88% of MENA commitments 2009 2008/2009 Commitments Growth Algeria $2 to 50 mln → Djibouti $2 to 50 mln → Egypt $100 to 300 mln ↓↓ Iran <$2 mln → Iraq $2 to 50 mln ↑ <$2 mln Jordan $2 to 50 mln → $2 to 50 mln Lebanon $2 to 50 mln → $101 to 300 mln Morocco $300 to 500 mln ↓ $301 to 500 mln Syrian Arab Republic $2 to 50 mln ↑ ↑↑ increases, more than 20 mln Tunisia $2 to 50 mln → ↑ increases, 5 to 20 mln West Bank and Gaza $2 to 50 mln → → same or change less than 5 mln Yemen $2 to 50 mln → ↓ decreases, 5 to 20 mln ↓↓ decreases, more than 20 mlnCountry breakdown is available only for direct funding
  • Funders active in MENA Active Funders in MENA Multilateral & UN Agencies Foundations & NGOs Microfinance Investment Intermediaries (MIIs)Top 5 Funders in MENA AfDB Citi Foundation Accion AIM% of Commitments to MENA EC Cordaid Consorzio Etimos AECID 13% IFAD Gates Foundation DBMDF AFD Proparco 11% World Bank Grameen Foundation DMCF IFAD 8% Grameen Jameel EMF KfW 7% Development Finance Mastercard Foundation Finethic EC 7% Institutions (DFIs) Omydiar Network Hivos-Triodos AECID Oxfam Novib Incofin AFD Proparco JAIDA BIO Bilateral Agencies Oikocredit DCA USAID CIDA Planet MicroFund EIB GTZ respA GMF Finnfund Italy MoFA respA MF FMO JICA SIDI IFC MCC Wallberg GMF KfW Netherlands MoFA XXEB OPIC USAID
  • South Asia
  • Cross-border funding to South Asia Commitments to Microfinance for SA as of December 2009: $4 billion* 29 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $3.4 billion $0.6 billion 37 Microfinance $3.36 bln $0.04 bln Investment $0.4 bln $0.2 bln Intermediaries (MIIs) Apexes Apexes $0.5 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy)* CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • India receives 65% of total funding to SACommitments by Country as of Dec. 2009, and 2008/2009 TrendCountry allocation is available for 86% of SA commitments 2008/2009 Commitments as of Growth in December 2009 CommitmentsIndia > $1billion ↑↑Bangladesh $300 to 500 mln ↓Pakistan $100 to 300 mln ↓↓Afghanistan $100 to 300 mln ↓↓Sri Lanka $50 to 100 mln ↓↓ $2 to 50 mlnBhutan $2 to 50 mln →Maldives $2 to 50 mln → $51 to 100 mlnNepal $2 to 50 mln ↓↓ $101 to 300 mln $301 to 500 mln $501 to 1,000 mln >$1 bln ↑↑ increases, more than 20 mln ↑ increases, 5 to 20 mln → same or change less than 5 mln ↓ decreases, 5 to 20 mln ↓↓ decreases, more than 20 mln
  • Funders active in South Asia Active Funders in SA Multilateral & UN Agencies Bilateral Agencies Microfinance Investment Intermediaries (MIIs) Top 5 Funders in SA AsDB AusAID% of Commitments to SA EC CIDA Aavishkaar Goodwell respA GMF IFAD DFID ASN-Novib respA MF AsDB 27% ILO Finland MoFA Bellwether Rural Impulse World Bank 25% IsDB GTZ BOPEF ShoreCap KfW 9% UNCDF Italy MoFA Consorzio Etimos SIDI DFID 6% World Bank JICA DBMDF SNS IFAD 5% Netherlands MoFA Dignity SNS MF II Norad DMCF Symbiotics DRF SDC Elevar Equity II Triodos FSF Foundations & NGOs USAID EMF Triodos MF Citi Foundation Finethic Triodos-Doen Cordaid Development Finance GCMC Unitus EF Doen Foundation Institutions (DFIs) Hivos-Triodos Wallberg GMF Ford Foundation AFD Proparco I&P Gates foundation BIO Impulse Grameen Foundation CDC Incofin Hivos DCA USAID India FIF ICCO EIB MicroVentures MSDF Finnfund MicroVentures India Omydiar Network FMO MicroVentures SICAR Oxfam Novib IFC MicroVest I Rabobank Foundation KfW MicroVest II Stromme Foundation Norfund Oikocredit Whole Planet Foundation OPIC OTI
  • Sub-Saharan Africa (SSA)
  • Cross-border funding to SSA Commitments to Microfinance for SSA as of December 2009: $2.5 billion* 35 Public Donors and Private Donors and Investors Investors (Foundations, Institutional and (Multilaterals, Bilaterals, DFIs) Retail Investors) $1.9 billion $0.6 billion 40 Microfinance $1.85 bln $0.05 bln Investment $0.3 bln $0.3 bln Intermediaries (MIIs) Apexes Apexes $0.4 bln Microfinance (Support for microfinance at all levels of the financial system: retail, market infrastructure, and policy) * CGAP surveys capture 85 to 95% of the total cross border f unding to microfinance
  • Countries receiving most funding: Ethiopia, Kenya,Uganda, Mozambique, Mali, Tanzania, Nigeria, GhanaCommitments by Country as of Dec. 2009, and 2008/2009 TrendCountry allocation is available for 63% of SSA commitments Commitments as 2008/2009 Commitments as 2008/2009 of December Growth in of December Growth in 2009 Commitments 2009 CommitmentsAngola 2 to 50 mln → Malawi 2 to 50 mln ↓Benin 2 to 50 mln ↓ Mali 50 to 100 ↑Burkina Faso 2 to 50 mln ↑↑ Mauritania 2 to 50 mln →Burundi 2 to 50 mln ↑ Mozambique 100 to 300 →Cameroon 2 to 50 mln → Namibia 2 to 50 mln →Cape Verde 2 to 50 mln → Niger 2 to 50 mln →Central African Republic 0 to 2 mln → Nigeria 50 to 100 →Chad 2 to 50 mln ↓ Rwanda 2 to 50 mln ↓Comoros 2 to 50 mln ↑ São Tomé and Principe 0 to 2 mln →Congo, DRC 2 to 50 mln → Senegal 50 to 100 ↑Congo, Rep. 2 to 50 mln → Sierra Leone 2 to 50 mln →Côte dIvoire 2 to 50 mln → Somalia 0 to 2 mln →Ethiopia 100 to 300 ↑↑ South Africa 2 to 50 mln ↑ <$2 to 50 mlnGabon 0 to 2 mln → Sudan 2 to 50 mln ↑ $2 to 50 mlnGambia 2 to 50 mln ↑ Swaziland 2 to 50 mln ↑Ghana 50 to 100 ↓ Tanzania 50 to 100 ↑ $51 to 100 mlnGuinea 2 to 50 mln → Togo 2 to 50 mln → $101 to 300 mlnKenya 100 to 300 ↑↑ Uganda 100 to 300 →Lesotho 2 to 50 mln → Zambia 2 to 50 mln →Liberia 2 to 50 mln → Zimbabwe 2 to 50 mln →Madagascar 50 to 100 ↓ ↑↑ increases, more than 20 mln ↑ increases, 5 to 20 mln → same or change less than 5 mln ↓ decreases, 5 to 20 mln ↓↓ decreases, more than 20 mln
  • Funders active in SSA Top 5 Funders in SSA % of Commitments to SSA IFAD 11% AfDB 7% AFD Proparco 6%Gates Foundation 5% EC 5%
  • ANNEXES
  • Survey Participants Public funders Multilateral and UN N=8 AfDB, AsDB, EC, IFAD, ILO, IsDB, UNCDF, World Bank agencies N=15 AusAID, CIDA, DANIDA, DFID, Finland MoFA, GTZ, Italy MoFA, Bilateral agencies JICA, Lux Dev, MCC, Netherlands MoFA, NORAD, SDC, Sida, USAID N=18 AECID, AFD Proparco, BIO, CAF, CDC, DCA USAID, EBRD, EIB, Development finance Finnfund, FMO, ICDF, IFC, IIC, KfW, MIF IADB, Norfund, OPIC, institutions (DFIs) SIFEM Private funders N=16 Foundations: Citi, Doen, Ford, Gates, Grameen, Grameen Jameel, Mastercard, MSDF, Rabobank, Stromme, Whole Foundations and NGOs Planet; NGOs: Cordaid, HIVOS, ICCO, Omidyar Network, Oxfam Novib Individual Investors n/a CGAP estimates* N=4 + CGAP ABP, ING, PGGM, TIAA Cref, and CGAP estimates* Institutional Investors estimates* *CGAP estimates are based on data from 90 MIIs. For more information on MIIs see http://www.cgap.org/p/site/c/template.rc/1.11.142715/
  • Method and Definitions• Method: Figures are based on data reported by 61 funders and 90 microfinance investment intermediaries. CGAP used data provided by microfinance investment intermediaries to estimate funding from individual investors and institutional investors. All data is as of December 2009. Growth rates are based on a subset of respondents for which data is available for all years covered by the surveys. Country breakdowns are based on funding for which country allocation is available. ***• Cross-border funding for microfinance: Like other development sectors, microfinance receives funding from public and private funders in developed countries. Depending on local capital markets and the regulatory environment, microfinance institutions in developing countries can also access local funding sources, such as client deposits or loans from local commercial banks. The CGAP surveys focus exclusively on foreign, or cross-border, funding for microfinance.• Commitments: A common way to measure funding for microfinance is to look at funders’ commitments. Total commitments represent the total amount of all currently active investments and projects, whether the funds have been disbursed or are yet to be disbursed during the remaining lifetime of a project. As such, total commitments describe the stock of funds set aside for microfinance at a given time (i.e. December 2009 for the data above). To understand the actual flow of money to the microfinance sector, it is also necessary to look at annual disbursements.• Microfinance Investment Intermediaries: Microfinance Investment Intermediaries (MIIs) are investment entities that have microfinance as one of their core investment objectives and mandates. MIIs can provide debt, equity or guarantees (directly or indirectly) to microfinance service providers. The main types of MIIs are Microfinance Investment Vehicles (MIVs), Holding Companies and others such as peer-to-peer lending platforms.
  • Advancing financial access for the world’s poor www.cgap.org www.microfinancegateway.org