Social Impact Assessment of Microfinance Programmes - weman

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issues are in the social theme booklet designed by the Gender Empowerment and Social Advocacy department. 8.1.4 Products 8.1.4.1 General Loan (GL) The purpose of the General Loan (GL) is to invest in income generating activities and can be used for an existing business or a new one. The loan size begins with Rs.10,000 and has a ceiling of Rs.25,000, the loan is repayable over 24 instalments in the course of 1 year at a service charge of 20 percent. Successive loan cycles entitle clients to an accretion in loan amounts of up to Rs.4,000 depending on their absorptive capacity. The GL comprises about 87 percent of the product wise share. According to Kashf this loan is utilized both by women who aspire to establish a small business for themselves or others who pass it on to their husbands/sons to diversify household income sources. The total disbursement of the GL stands at 3.9 billion rupees with 322,589 loans given out. It has grown exponentially over the last year due to the expansion efforts of Kashf as seen in Figure 8.3. The Average Loan size (ALS) for year 2006 was Rs.12,101 and the average loan balance per active borrower to per capita income is 25 percent. This attests to the program’s focus towards catering to the poorer segments of the population who have limited absorptive capacity. Figure 8.3 Millions 4500 4000 3500 3000 2500 2000 1500 1000 500 0 GL Disbursement 3903.66 707.53 446.33 16.98 32.3 189.37 2001 2002 2003 2004 2005 2006 Year 8.1.4.2 Emergency Loan (EL) Emergency Loan (EL) is a service that is available to the existing Kashf clients, who are already availing a general loan. The idea behind this loan is to provide a buffer/support to clients to fulfil any unforeseen expenses. The amount of this loan ranges from Rs.2,000 to Rs.4,000 with a 20 percent flat annual interest rate. This loan is repayable in 11 equal instalments over a period of six months. The amount of loan disbursed under the emergency loan is approximately Rs 0.6 billion with an average loan size of Rs.2,696. EL disbursement represents 13 percent of the total product demand at Kashf. In Figure 8.4 7
we can see that the disbursement of EL has grown 10 times in the last year due to Kashf’s accelerated growth. Figure 8.4 Millions 700 600 500 400 300 200 100 0 EL Disbursements 596.19 1.72 0.74 18.55 32.82 60.38 2001 2002 2003 2004 2005 2006 Year The EL has been helpful to clients in relieving periodic financial stresses and enables them to pay school fees, utility bills, health related expenses or accessories for festivals such as clothing, etc. The EL equips clients to meet their personal expenses and saves them from turning to moneylenders and paying exorbitant interest rates to meet such needs. It has proven to be an asset for the programme since it ensures client loyalty and motivates the client to remain with the programme to overcome her poverty in a respectable manner. 8.1.4.3 Business Sarmaya Loan (BSL) The Business Sarmaya loan is intended for the ‘missing middle’ of the market, i.e., both men and women with running businesses who demonstrate a financial need for working capital and/or fixed assets. Small entrepreneurs are provided with access to capital in addition to advisory support for their respective ongoing businesses that can include trade, production and services. The starting loan size is Rs.30-50,000 while in the second loan cycle it can be up to Rs.100,000 and is payable in monthly instalments. The individual loan product focuses on clients with higher monetary needs than those engaged in the group lending programme as well as male micro entrepreneurs. Kashf maintains that the Business Sarmaya loan acts as an inducement for existing customers involved in group lending to maintain a suitable credit history and to abide by the procedures of the programme, but it also targets new clients. The features of the Business Sarmaya Loan are the result of in-depth research. Since most respondents who were part of the research did not have access to bank accounts or significant physical collateral, conditions for access to the individual loan have taken these factors into account. Consequently eligible entrepreneurs have to possess a fixed 8
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Social Impact Assessment of Microfi
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indicators which are more difficult
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• Since Asasah has been in operat
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Akhuwat • Akhuwat was established
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and economic change in their surrou
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development. NRSP's mandate is to h
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Kashf Urban Poverty Alleviation Pro
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clients’ amounts to Rs.5.6 millio
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Pakistan, Official Poverty Line - R
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Contents Executive Summary Acknowle
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7.5 UPAP Survey Results 7.6 UPAP Re
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microfinance operations. This ordin
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and not other services such as savi
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elow. While we examined the traditi
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Ideally, baseline studies and panel
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members of these organizations are
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Microfinance Branch District/City I
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factor. For this survey, the sample
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loans and might have increased cons
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Chapter Three: Asasah 3.1 Instituti
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insufficient resources. Furthermore
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Figure 3.1: Asasah’s Target Marke
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for SBF, two in Lahore and one in K
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to Regional Managers as the organiz
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undertake thorough research which e
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According to Asasah the only time a
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Figure 3.3 Funding Sources NGO 5% D
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Borrower’, is that client who has
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Note: There are 237 and 273 respond
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orrowers spend less on education by
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Jewellery and livestock were genera
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Appendix Chapter 3 A 3.1.1 Institut
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A3.1.4 Organizational Structure Boa
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Table - A.3.2.4 Respondent Characte
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Table - A.3.2.9 Child Education [AS
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Table - A.3.2.14 Household Assets O
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Table - A.3.2.17 Women’s Empowerm
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Table - A.3.2.20 Women’s Empowerm
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Table - A.3.2.22 Borrowers - Loan A
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Table - A.3.2.27 Non-Borrowers’ P
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Chapter Four: Orangi Charitable Tru
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these, as many as 7,301 units are c
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• Loan for Livestock: OCT also su
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guarantees of two local entrepreneu
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CEBEMO, a Dutch funding agency, has
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MFIs claim. Hence, its criteria and
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Table - 4.4 OCT - Household Assets
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difference, we found that active bo
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mainly because they don’t have to
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Term/D uration Loan size improveme
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Table - A. 4.2.4 Respondent Charact
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Average Indebtedness 19300 6375 340
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Table - A. 4.2.14 Household Assets
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Table - A. 4.2.19 Borrowers’ Perc
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Table - A. 4.2.23 Non-Borrowers’
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which also became the head office.
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problem of group lending is that me
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uy insurance, which covers the risk
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activities with other NGOs and Soci
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5.1.5.3 Policy Environment As Akhuw
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are also working on a marketing pla
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We first discuss results based on t
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New and Non- Borrowers 506072.7273
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From these results we can judge tha
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Appendix Chapter 5 A 5..11 Institut
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Table - 5.4.2.1 Sample Information
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Table - A. 5.2.6 Housing Characteri
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Table - A. 5.2.12 Sources of Househ
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Table - A. 5.2.16 Women’s Empower
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Table - A. 5.2.29 Non-Borrower’s
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in the contextual needs of the comm
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6.1.4.1 Products and Services Offer
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Other filters related to the specif
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management reveal the significance
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have been chosen from ‘old/establ
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School Going Children - Boys % Acti
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The Difference in Differences (DID)
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Table 1: Regression results Young B
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• Participants were also not very
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Impact on Quality of Life & Social
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Appendix Chapter 6 A.6.1.1 Institut
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Sample Information [SAFWCO] Table -
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Table - A. 6.2.7 Housing Characteri
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Table - A. 6.2.12 Sources of Househ
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Table - A. 6.2.29 Non-Borrowers’
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incremental growth, it is emerging
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the purpose of the organization and
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Group loans are meant specifically
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Officer. If the Field Worker and Cr
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The worker’s degree of mobility d
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credit is disbursed to another woma
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Borrowers Houses with RCC Roof Acti
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Own House Active Borrowers 98.4568
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A Single Difference equation is als
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Table 7.6: Regression results Young
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Table - 7.8 UPAP - Economic Status
Page 212 and 213: Table - 7.10 UPAP - Household Asset
Page 214 and 215: Y ij = X ij α + C ij β + M ij γ
Page 216 and 217: Table 1: Regression results Young B
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Page 222 and 223: Client Profile Most of the women in
Page 224 and 225: Appendix Chapter 7 Appendix A.7.1 N
Page 226 and 227: Appendix A.7.2 Results from NRSP Su
Page 228 and 229: Table - A. 7.2.6 Housing Characteri
Page 230 and 231: Monthly Expenditure on Health 1526
Page 232 and 233: Table - A. 7.2.16 Women’s Empower
Page 234 and 235: Do you operate Bank account in your
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Page 238 and 239: No 17.6 14.1 20.3 9.6 16.7 100.0 15
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Page 242 and 243: Table - A.7. 4.4 Respondent Charact
Page 244 and 245: Table - A.7. 4.9 Child Education [U
Page 246 and 247: Table - A.7. 4.14 Household Assets
Page 248 and 249: Table - A.7. 4.17 Women’s Empower
Page 250 and 251: Table - A.7. 4.20 Women’s Empower
Page 252 and 253: Table - A.7. 4.23 Borrowers - Loan
Page 254 and 255: Table - A.7. 4.27 Non-Borrower’s
Page 256 and 257: Chapter Eight: Kashf 8.1 Institutio
Page 258 and 259: were introduced at several levels a
Page 260 and 261: Box 8.1 Kashf’s Core Values Servi
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Page 272 and 273: Table 8. 2 Financing Sources: Septe
Page 274 and 275: We first discuss results based on t
Page 276 and 277: Note: There are 239 and 271 respond
Page 278 and 279: Table - 8.7 KASHF - Business Charac
Page 280 and 281: The results from the estimation of
Page 282 and 283: A total of three focus group discus
Page 284 and 285: The positive impact of the credit w
Page 286 and 287: Appendix Chapter 8 A.8.1.1 Institut
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Page 290 and 291: A.8.1.5: GESA Activities Initiative
Page 292 and 293: Table - A.8.2.1 Sample Information
Page 294 and 295: Table - A. 8.2.6 Housing Characteri
Page 296 and 297: Table - A. 8.2.12 Sources of Househ
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Page 306 and 307: Table - A. 8.2.27 Non-Borrowers’
Page 308 and 309: Chapter Nine: Conclusions For anyon
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Another finding from the survey sug
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of the microfinance sector in Pakis
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Section 1 - IDENTIFICATION File:
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1.9 Occupation - Primary __________
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Section 4a - All Respondents File:
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Section 4b - All Respondents File:
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Section 5b - All Respondents File:
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Section 7 - Only for Non-Agricultur
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8) Do you regularly pay the loan in
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Section 9 - All Respondents File:
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10.2 Had you wanted to join a progr
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11.7 Business Assets Business Asset
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Section 14 - All Respondents File:
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Section 16,17,18 - All Respondents
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17.2 [If Yes in 17.1], Why you did
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Section 19 - Only for Female Respon
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19.8 Who in your household decides
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Section 20a - Only for Agricultural
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Section 20b - Only for Agricultural
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Page is left intentionally blank Qu
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Appendix: Additional Codes ________
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Bibliography Carolyn Barnes and Jen
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