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ABOUT MICROFINANCE

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Overview

Nearly three billion poor people in developing countries lack access to the basic financial services needed to help them manage their precarious lives.

Access to financial services – whether in the form of savings, credit, money transfers or insurance – is a fundamental tool for improving a family’s well-being and productive capacity. Access to financial services empowers the poor by reducing their vulnerability, and offering them opportunities to improve their lives.

When poor people have access to financial services, they invest in assets such as sending their children to school, buying medicines and more nutritious food, fixing a leaky roof, or building income-earning potential by investing in their own enterprises. In this way, access to financial services enables poor people to build their own path out of poverty.

CGAP's Organization: CGAP is housed at the World Bank, but operates as an independent entity. It has its own governance structure, designed with an agile board that includes microfinance practitioners and leaders from outside the funder community while preserving member representation.

The Council Of Governors: The Council of Governors is the membership and governance body of CGAP. It is responsible for setting CGAP's broad policies and strategic directions, providing inputs to the annual workplan and budget, adopting and implementing CGAP consensus guidelines, and determining the future of CGAP. The CG is comprised of representatives from all of CGAP's members: bilateral and multilateral development agencies, regional development banks, private foundations, and international financial institutions.

The Investment Committee: The Investment Committee is the fiduciary oversight body that acts on behalf of the Council of Governors. It is responsible for deciding on key CGAP investments and for projects with a budget of more than $100,000.

The Executive Committee: The Executive Committee functions as CGAP's board and executive governing body. It has principal oversight of CGAP's activities and is responsible for providing strategic guidance to the Operational Team, and approving the workplan and budget on behalf of the CG.

CGAP Working Groups: CGAP members may form Working Groups in areas of access to finance where they have strong expertise. There are currently CGAP Working Groups on Housing Finance and Microinsurance.

Who We Are

CGAP is the leading independent resource for objective information, expert opinion, and innovative solutions for microfinance. We work with the financial industry, governments and investors to effectively expand access to financial services for poor people around the world. Our mission is to help alleviate poverty by advancing access to finance.

CGAP distributes vital industry information and research through a variety of free publications and Web sites. We work with stakeholders to set standards and identify best practices, and we provide advisory services for governments and financial institutions. Working through a network of worldwide partners, we develop innovative solutions that help microfinance to more effectively serve the needs of poor people.

Meet the CGAP Team

Working at CGAP

Working at CGAP means an opportunity to learn about new trends and developments that affect access to finance, and to engage directly with the financial institutions, funding organizations, government policymakers and regulators, and other actors – including low-income clients themselves -- who are concerned about building inclusive financial systems. It is also an opportunity to interact and explore synergies with a broad range of development organizations that are focused on alleviating the many dimensions of poverty.

Overview

Who We Are

Working at CGAP

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