June 11, 2010

Three ACDI/VOCA Legacy MFIs Credited as Leaders in Transparency

Agrocapital, Bai Tushum, CredAgro Recognized in MIX Rankings

Three microfinance institutions (MFIs) created as part of different ACDI/VOCA financial services programs recently were recognized by the Microfinance Information Exchange Inc. (MIX) as leaders in their respective communities for their commitment to transparency and accountability and their outreach to poorer clients.

Bai Tushum (Kyrgyzstan) and CredAgro (Azerbaijan) were among 13 MFIs—out of more and 200—from Eastern Europe and Central Asia that received the 2009 MIX Social Performance Reporting awards, which showcase the achievements of MFIs that report in a transparent and accessible way on how their services affect poor clients.

MIX also recently ranked Agrocapital in Bolivia as 24 on its list of the top 100 MFIs in Latin America, which are ranked according to indicators on the scope and reach of their services, their efficiency and transparency.

A key part of ACDI/VOCA’s work to empower people and spur economic development is to expand financial services to small enterprises and families in rural households. Because traditional banks and other financial services often do not service these communities, many of our projects seek ways to create new financial institutions to fill this need in a sustainable way.

Agrocapital, Bai Tushum and CredAgro are among several legacy institutions we have established that contribute to these enduring efforts to fight global poverty and build local economies worldwide.

To learn more about ACDI/VOCA’s commitment to sustainability and to read profiles of selected successor organizations, please click here.