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efficiency, and aggressive enforcement of repayment” (Littlefield and Rosenberg,
2004). An opposite perspective is: “MFIs that focus on financial self-sufficiency bear
the burden of proving that they are truly reaching the very poor. If not, then they are
pushing the microfinance industry to abandon its value-based roots, and concern for
the poor, however earnest, can be become simply an excuse to make a buck.”
(Woller, Dunford and Warner, 1999).
Based on different perspectives and missions, different models have been
developed. In a research done by Granger and Lämmerman (2009), two different
successful French organizations, Adie and France Initiative are being compared.
Both organizations have reached considerable results; together they have provided
more than 25,000 loans. They work very efficiently while reflecting different visions,
aims and operating models. Both organizations were set up in similar political and
economic contexts, but they operate upon different models and target a different
clientele.
Public money represents more than 80% of the resources of the two networks; but
while Adie wants to escape this and become independent, and “financially
sustainable”, France Initiative explicitly wants to work with public money, considering
that financing new businesses for people in trouble is a public duty.
Beside these very evident and important differences regarding their visions and
operations, both organizations nevertheless also work based on significant
similarities: both rely heavily on the involvement of volunteers regarding their
Business Development Services (BDS) provision and final decision on loan provision
as well as on partnerships of all kinds, thereby keeping operational cost as low as
possible (Granger and Lämmerman, 2009).
Armendáriz (2009), who compares Adie with a Belgian microfinance organization
called Crédal, has done similar research.
Microfinance in the Netherlands
In 2007, the Dutch Ministry of Economic Affairs, under the management of State
Secretary Frank Heemskerk, appointed The Board of Microfinance. One of the
members of this board is Her Royal Highness Princess Maxima of the Netherlands,
Elmar Hoogendoorn 88
Sustainable Microfinance