[MFP] This week's blog posts on 100 Million Ideas: mBanking and ending extreme poverty

 

We have published 2 blog posts this week that we think members of the MFP listserv will be interested to read and comment on. We invite your reactions and commentary.

 

Discussions with practitioners in the field: What’s up with mBanking? (http://bit.ly/Pjj8rC)

Many expect that mobile banking will facilitate financial inclusion and give people at the bottom of the pyramid a tool to fight poverty, but this promise has not been fully realized and there is still a growing divide between the poorest households operating in a cash economy and the increasingly digitized formal economy. If the poorest are not to be left behind (again), we need to be asking, what is standing in the way of better using mobile service platforms to reach the excluded sustainably? So, we set out with Microfinance Opportunities to find practitioners to discuss this with us…

Read more and leave your comments: http://bit.ly/Pjj8rC

 

Paths to Ending Extreme Poverty by 2030: What will it take? (http://bit.ly/1q6gx1j)

The 2013 Partnerships against Poverty Summit in the Philippines looked deeply at the kinds of partnerships that can help build structures and tools to do more for the extreme poor. Some of the major themes speak directly to strategies that can help us get to the 2030 goal of ending extreme poverty. Here’s what tops our list:

·        Mobile innovations -- As Roger Voorhies (Gates Foundation) said at the 2013 Summit, “Digitization can cut 90 percent of the cost of transactions, reduce paperwork, and increase the number of people reached by financial services.”

·        Microinsurance -- MicroEnsure found that people living in poverty respond positively to an organization that not only provides a microcredit or savings service, but also mitigates the risks they may face by providing additional products like life insurance in conjunction with the primary service.

·        Combining approaches -- At the Summit we pitted the graduation model against the CCT model and asked Secretary Corazon Soliman (Filipino Department of Social Welfare and Development) and Juan Borga (IDB) to choose which had the greatest potential for the extreme poor. They answered, “Both, in combination.”

Read more and leave your comments: http://bit.ly/1q6gx1j

 

Sabina ROGERS | Communications and Relationships Manager

MICROCREDIT SUMMIT CAMPAIGN | A Project of RESULTS Educational Fund

P: +1.202.637.9600 x 128 | F: +1.202.452.9356 | S: jayaichyou | http://www.microcreditsummit.org/

1101 15th St NW | Suite 1200 | Washington DC, 20005

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