The global financial inclusion movement, supported by the G20, the World
The Microcredit Summit Campaign has developed the 100 Million Project to galvanize energy around a
Two main avenues are being pursued toward Goal 2:
The 100 Million Project is the second phase of a program the Campaign initiated in 2006. At that time poverty measurement was an increasingly important topic of discussion among practitioners and other stakeholders. The Campaign’s second goal, in alignment with the Millennium Development Goal to cut $1/day poverty in half by 2015*, is an ambitious undertaking and one which requires appropriate quantitative measurement tools. One significant impediment for member organizations at the outset of the initiative in 2006 was a general lack of sufficient data generated by such measurement tools which could shed light on changes in the level of poverty among microfinance clients.
Since 2006, there has been a dramatic increase in the prevalence of poverty measurement tools both in terms of the number of institutions using these tools and in the diversity of tools available. As an example, one of the most viable poverty measurement tools is the PPI (Progress out of Poverty Index) developed by Mark Schreiner for the Grameen Foundation with support from the CGAP/Ford Foundation Social Indicators Project. Since its development in 2006, the PPI is now in use by over 175 institutions in 45 countries across 4 major regions. The greater prevalence of this and many other powerful poverty measurement tools represents is a major step forward in the availability of tools to measure poverty down reach and movement out of poverty over time - an important part of the 100 Million Project goals.
* The $1/day threshold of the World Bank has since been revised to $1.25/day which the Campaign now uses for its benchmark.
Achieving Goal 2 is a big challenge and will require building collaboration among a lot of organizations with a wide range of areas of expertise. We are developing partnerships now with the support organizations needed to help make this happen, including SEEP, the MIX, Grameen Foundation, Microfinance Opportunities, and Ideas42. It is through these partnerships that we hope to achieve the two principle aims of the 100 Million Project. Learn more about our Project Partners!