Promoting Inclusive Markets and Financial Systems
SummaryWhat does it take to offer sustainable financial services to economically, socially, or geographically marginalized clients? To answer this question, CGAP initiated the Pro-poor Innovation Challenge (PPIC) award program in 2000. The PPIC program has three goals:
1. to identify smaller, “under-the-donor-radar” microfinance institutions (MFIs) that use innovative methodologies to reach clients;
2. to help these MFIs perfect and scale up their methods; and
3. to promote these approaches to the industry at large by producing demonstration effects among practitioners and donors.
This review, undertaken five years after the launch of PPIC, assesses the performance of the program against its stated goals and looks at lessons learned from both the program and its winners about how donors and practitioners can extend the reach of microfinance. This review also makes recommendations to help the PPIC program develop as a learning source for the microfinance community.