...A global microfinance accelerator provides the necessary high-impact capital funding and strategic organizational capacity building consulting to the highest potential MFIs in developing countries. ...[It] vastly increases the number of loans an existing MFI can make to the working poor and empowers significantly more families to work their way out of poverty.
By providing the self-employed poor with affordable credit, microfinance has already helped millions of people substantially improve their standard of living. Unfortunately, only a handful of the microfinance institutions (MFIs) that issue these loans have grown to a size where they are making a significant impact on the communities they serve. There are several thousand microfinance institutions throughout the world, yet more than 90% of the eligible self-employed poor lack access to microcredit programs. In general, the programs are too few and too small. Demand dramatically exceeds supply. For microcredit to achieve its potential as a worldwide poverty alleviation strategy, it will be necessary for hundreds of MFIs to each scale to a client base of at least 100,000.