Financial Promise for the Poor: How Groups Build Microsavings

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Kim Wilson, Malcolm Harper, Matthew Griffith
Kumarian Press, 2010 - Political Science - 242 pages
2 Reviews
* Balanced assessment of recent savings-led programs in microfinance
* Contributors include wide range of scholars and practitioners

The entry of the private sector into financial services for the poor is a relatively new development, but already the glossy promises of credit-led microfinance are facing scrutiny from the development community. Policymakers and economists have begun picking through the hype of microfinance to identify where and how top-down loans might fit into broader human development efforts. To many, the answer involves shifting focus to another financial service: savings. Serving as a strong and perhaps more effective tool than microcredit, microsavings is quickly becoming a lauded poverty-alleviation tool.

Contributors to Financial Promise for the Poor cover current innovations in microsavings happening around the world. They describe how savings group members in the developing world are avoiding many of the financial liabilities and debt of other microfinance programs while gaining skills and finding opportunities in collective enterprise. The turn from credit to savings speaks to the growing empowerment of individuals and communities as they break the bonds of indebtedness and find their own paths to financial security.
  

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Review: Financial Promise for the Poor: How Groups Build Microsavings

User Review  - Jennifer Kern - Goodreads

“Provides a useful overview of the current state of practice in an expanding field of approaches that is promoting the savings-led model. It usefully highlight the key questions and issues that this field is currently discussing.” - Enterprise Development and Microfinance Read full review

Review: Financial Promise for the Poor: How Groups Build Microsavings

User Review  - Tinea - Goodreads

This is a collection of case studies of different group microsavings development projects around the world by CARE, Oxfam, CRS, and others, assessing methodology and making general recommendations for this kind of project. For practitioners. See also Savings Groups at the Frontier. Read full review

Contents

PART
15
DhukutiA Real Treasure
23
From SelfHelp Groups to Village Financial
29
On an Informal Frontier
39
Illustrations
47
PART 2
53
Saving Cash and Saving the Herd
75
Informal GroupBased Savings Services
85
Savings group member in Bamyan Province Afghanistan
142
Womens Empowerment through Literacy
145
Savings Groups and Village Development
155
A Snapshot of Oxfams Saving for Change
167
Doris Dvube a savingsgroup member in Nzameya Swazi
174
PART 5
175
Pushing the Rich Worlds Debt Crisis
189
More Better Cheaper
199

PART 3
97
Retrofitting an Agricultural Program with
109
Virtual Staff
115
The Green Box
129
Adapting the Bachat Committee
139
The Box and the Ark
207
Conclusion
215
Contributors
225
Index
231
Copyright

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About the author (2010)

Kim Wilson is a lecturer at The Fletcher School and a Fellow with the Center for Emerging Market Enterprises and the Feinstein International Center at Tufts University. Spending time in India beginning in 2001 through 2005, Professor Wilson worked closely with savings groups, connecting them to banks with a particular focus on tribal areas. She has worked for Catholic Relief Services heading their Microfinance Unit, and in that tenure, spearheaded CRS' shift from focusing on credit to the poor to savings of the poor. Professor Wilson has consulted for many international agencies in savings and credit. Previously, she was in the private sector, occupying senior management positions in finance and franchising.

Malcolm Harper taught at Cranfield School of Management until 1995, and since then has worked mainly in India. He has published on enterprise development and microfinance. He was Chairman of Basix Finance from 1996 until 2006, and is Chairman of M-CRIL, the microfinance credit rating agency and business development, and author of numerous books and articles. He is the co-editor of What's Wrong with Microfinance? (Practical Action, 2007).

Matthew Griffith is an independent consultant focusing on community finance and livelihoods. He has worked with marginalized communities in Russia, the United States and Ethiopia. Most recently, he worked with the Feinstein International Center at Tufts University on a project focusing on the financial resilience of disaster-affected populations. He received a Masters from the Fletcher School of Law and Diplomacy.

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