At the same time, this ten-year milestone compels us to assess how we can deliver appropriate microfinance services in an even better and more cost-efficient manner to more of our country’s entrepreneurial poor. Fortunately, recent developments in the industry are opening new opportunities and presenting us with interesting possibilities that can lead to revolutionary ways of providing better microfinance services.
First among these developments is the changing face of microfinance itself. Gone are the days when microfinance was synonymous only to microcredit or small loans. Today, microfinance institutions are providing a wide range of financial services to their clients such as savings, remittances, transfers and, increasingly, micro-insurance.