The Microcredit Summit Campaign welcomes the Mifos Initiative as the newest Campaign Commitment maker, joining a global coalition to help 100 million families lift themselves out of extreme poverty. The Mifos Initiative is committing to integrate social performance management and poverty measurement tools into its free and open source cloud-based core banking system.
Washington, DC - January 15, 2015: The Microcredit Summit Campaign welcomes the Mifos Initiative as the newest Campaign Commitment maker, joining a global coalition of 56 other Commitment makers working to help 100 million families lift themselves out of extreme poverty. The Microcredit Summit Campaign’s 100 Million Project is building a movement among financial service stakeholders committed to helping to end extreme poverty through: public statements of commitment to action, expanding practices to reliably measure movement out of extreme poverty, and promoting innovations and best practices to accelerate movement out of poverty.
Craig Chelius, executive director of the Mifos Initiative, views the 100 Million Project as a way to contribute to ending extreme poverty by committing to fully integrating the Progress out of Poverty Index, a poverty measurement tool, into the open source Mifos X Platform for Financial Inclusion. "The Mifos Initiative produces a transformative impact that dramatically expands the reach and scale of financial inclusion providers via a free and open source cloud-based core banking system. Providing financial services to the poor is a proven method to help permanently end poverty and to that end, we are thrilled to partner with the Microcredit Summit Campaign and to publish our 2015 commitment."
The Mifos Initiative commits to the following by the end of 2015:
Ensure that the Progress out of Poverty Index (PPI) and other social performance management frameworks can be captured and analyzed as an integral part of the client workflow in the Mifos X platform:
Ensure that social performance management (SPM) is a focus of the Mifos community and Mifos will provide the resources and education to help their customers adopt SPM through their partner channel:
The Mifos Initiative commits to the following by the end of 2016:
The Campaign looks forward to welcoming this new partner in the global coalition to end poverty and sharing their progress towards the Commitment achievement at the 18th Microcredit Summit in 2015, an important conference for the microfinance sector.
For more information on Commitments and the 100 Million Project, visit our webste or write to mycommitment(at)microcreditsummit(dot)org.
The Microcredit Summit Campaign
The Microcredit Summit Campaign (the "Campaign"), a project of RESULTS Educational Fund, is the largest global network of institutions and individuals involved in microfinance and is committed to two important goals: 1) reaching 175 million of the world’s poorest families with microfinance and 2) helping 100 million families lift themselves out of extreme poverty. The 100 Million Project, focusing on Goal 2, was launched in response to World Bank President Jim Yong Kim’s call to end extreme poverty by 2030 and in recognition that full financial inclusion can only be achieved by targeting the extreme poor. The coalition of Campaign members announcing Commitments is aimed at motivating microfinance stakeholders to provide products and services that reach the extreme poor and facilitate their movement out of poverty.
The Mifos Initiative
The Mifos Initiative is a US-based non-profit that stewards the development of the open source Mifos X Platform for Financial Inclusion and its global ecosystem of volunteers and donors, technology partners, and client financial institutions. Its mission is to empower financial institutions in developing countries to bring affordable, responsible financial services to the nearly 3 billion people on the planet who currently do not have formal access.
comments powered by Disqus