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Kashf Foundation announces Campaign Commitment focused on financial and social outcomes for clients

Summary: The Microcredit Summit Campaign welcomes Kashf Foundation as the newest Campaign Commitment member, joining a global coalition to help 100 million families lift themselves out of extreme poverty.

             

Washington, DC – The Microcredit Summit Campaign welcomes Kashf Foundation as the newest Campaign Commitment member, joining a global coalition of organizations committed to specific, measurable, and time-bound actions to advance the Campaign’s goal of helping 100 million families lift themselves out of poverty.

Kashf Foundation focuses on empowering its clients with small loans in conjunction with financial education and capacity building training. The foundation works specifically with women in Pakistan in five key entrepreneurial sectors to enhance their means of income. However, it is not enough to simply disburse more loans and train more people. Kashf Foundation recognizes that they need to evaluate the results of their work to better understand the outcomes for their clients. Along with the Centre for Research in Economics and Business, Kashf Foundation will develop a randomized trial evaluation to be completed this year that will help to maintain a customer-centric focus.

“This commitment re-affirms Kashf Foundation’s raison d'être i.e. keeping the client at the center of product research and delivery to ensure a holistic transformation in the lives of low-income households” - Roshaneh Zafar, Managing Director Kashf Foundation

Kashf Foundation has announced its Campaign Commitment as follows:

  • Recognizing the growing diversity of client needs within microfinance and Kashf’s own priority on strengthening women entrepreneurship, Kashf commits to launch in 2014 lending products tailored specifically for each of 5 identified sectors in which women entrepreneurs are working including Trading (Grocery Stores & Convenience Stores), Garments and Embellishment (Hand Embroidery, Stitching, Retail Garments), Services (Beauty Parlor, Food Processing, Roadside Restaurants), Dairy & Livestock (Milk Production, Animal Rearing and Husbandry) and Small Manufacturing (Jewelry making, Shoe Making, Flower Making)
  • As part of the effort of Kashf Foundation to provide a comprehensive array of services for our clients, we will expand our existing health insurance program to cover 100,000 individuals by the end of 2014.
  • We will also expand access to vital health services for Kashf Foundation clients by increasing the number of active health camps to 16 and 18 OPD sessions in 2014.
  • Kashf Foundation Commits to expand its efforts to provide financial education and capacity building for its clients. Kashf has provided this training for over 600,000 clients to date. By the end of the first quarter of 2015 Kashf will provide access to financial education and capacity building trainings for an additional 200,000 clients.
  • Kashf Foundation is dedicated to making data-driven decisions in managing the products and services we provide to our clients. To this end, we will complete in partnership with Centre for Research in Economics and Business during 2014 a randomized control trial evaluation with 990 clients for the Kashf Ibtida-e-Karobar Karza to better understand the outcomes for our clients.

The Campaign looks forward to welcoming this new partner in the global coalition and sharing their progress towards the Commitment achievement at the 17th Microcredit Summit. This year's Summit will be held in Merida, Mexico in partnership with the Ministry of Economy (Mexico) and its National Microentrepreneur Financing Program (PRONAFIM) and will focus on the theme of "Generation Next: Innovations in Microfinance."

Read the Kashf Foundation Commitment letter here

For more information on Commitments and the 100 Million Project, visit www.microcreditsummit.org or write to mycommitment@microcreditsummit.org

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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 (focused 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. 


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