Sign up for our News Bulletin!

Email Us


 
 

Red Financiera Rural makes Campaign Commitment to implementing social performance measurement tools in Ecuador

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


Washington, DC (June 11)– The Microcredit Summit Campaign welcomes Red Financiera Rural (Rural Finance Network in Spanish) 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.

“At RFR we have supported the Microcredit Summit Campaign since we were founded in 2000,” stated Javier Vaca, Executive Director of Red Financiera Rural. “We are greatly pleased that our member institutions contribute to the goal of reaching people living in poverty with financial services, especially the most vulnerable including women and farmers. And we are convinced that with the dedication of our 46 members, through continuous learning, development of new methodologies and efficient management at a social and financial level, we contribute every day to a greater number of Ecuadorians being able to move out of poverty on their own accord, being agents of their own development.”

Red Financiera Rural (RFR) is the leading microfinance network in Ecuador, supporting microfinance institutions that serve the most vulnerable members of society. Currently, RFR works with 46 member organizations across Ecuador to design innovative products and solutions for the clients of their member MFIs . RFR encourages best practices of financial and social information transparency in the sector.  RFR’s innovative program to set up Social Responsibility Systems among its member institutions earned it the distinction of being a finalist for the European Microfinance Award in 2008. It is this innovative drive that makes RFR a well-respected microfinance organization today.

Red Financiera Rural has announced its Campaign Commitment as follows:

We will expand to include 3 more member institutions by the end of 2014.

  • In 2014 we will develop innovative microfinance products based on the results of the institution survey that addresses the needs of the clients and institutions. These needs include rural credit, credit with value chains, rural savings, microinsurance and microfranchises.
    • By the end of 2014, we will implement these products in at least 8 institutions.
  • By the end of 2014, we will increase the coverage of institutions participating in Finance Education Programs from 8 members serving 2,700 clients, to 12 members.
  • By the end of 2014, we will implement Social Performance Management tools in 20 institutions. Among these, we will implement 4 SPI, 2 SMART evaluations, and 2 with the Truelift tool.
  • During 2014, we will conduct 21 open courses, including 6 virtual trainings.

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.

Read the Red Financiera Rural Commitment letter (in Spanish).

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

####

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. www.microcreditsummit.org

 

 

 


comments powered by Disqus

Join our email list

Microfinance News