Financial inclusion

• Prof. M. Raffinot:

The financing of MFIs:

• Support to MFIS: an evolving picture. Organisations, Official, NGOs and commercial lenders. Poverty alleviation and/or financial deepening.

• Official aid: What are the actors, what are their objectives, their constraints? What is aid (how to measure it)? Principles of allocation of aid at the international level, at the MFIs’ level. Why does the international aid system rely on principles that are so different from microfinance?

• Is aid relevant for MFIs? What are the expectations of Donors (public, private, charities) about MFIs? Poverty alleviation and/or financial sustainability?

• Aid effectiveness: the selectivity debate and beyond. The role of subsidies, support and dependence to aid. The Paris Declaration.

• MFIs in the Aid Market: the aid market (supply and demand; institutions; tools (Project Aid, Budget Aid, Debt Relief); what do (different type of) MFIs need? What do they get?

• International financing and MFIs: the international financial markets and Developing countries: the market, the original sin and the exclusion of the poor; Exclusion, debt and debt relief; can MFIs rely on financial markets?

• Prof. I. Guérin:

Microfinance and Societies

1) Microfinance and informal finance (two sessions)

2) Microfinance and employment (one session)

3) Empowerment (one session)

• Prof. M. Raffinot:

• Explain how supporting institutions (international financing institutions, Banks, NGOs) are choosing to support some specific MFIs.

• Explain why the modalities of foreign aid at the macro level (from governments to governments) are so different from the modalities used by microfinance institutions

• Prof. I. Guérin:

• Show how the financial sustainability and the mission to reach as many poor people as possible might be compatible

• Explain how mobile phone financial services might be used preserving the use of social relationships in the microfinance process.

• Introduce the basic needs of non-financial microfinance programs

• Point out some economic and social dimensions of microfinance health programs

• See real cases of microfinance health programs setup and methodology

• Explain how foreign aid or foreign financing works for enhancing MFIs’ activities in developing countries in a sustainable way, what are the challenges for improving its effectiveness, and what are the associated risk.

• See how far can microfinance help to reduce vulnerability, promote employment and empowerment?

• See how microfinance articulate with informal finance

• Examine the clients’ perspective and how clients perceive and appropriate microfinance services

• Show how social networks and cultural backgrounds may affect activities of MFIs (including individual microcredit

Lectures

References, bibliography, and recommended reading

See course outlines for details.

Contacts

Email Marc Raffinot : raffinot@dauphine.fr

Email Isabelle Guérin : isabelle.guerin@ird.fr

Method(s) of evaluation

• Other

Other

Written assignments :

• One for Prof. M. Raffinot’s part

• One for Prof. I. Guérin’s part

Mark calculation method (including weighting of intermediary marks)

Two marks A (Prof. Raffinot) and B (Prof. Guérin) must set the final mark C.

• if A and B are greater than or equal to 8/20, then C = (A + B)/2

• if A ; 8/20 or B ; 8/20, then C = min (A,B).

Language(s) of evaluation

• english