Muhammad Yunus, member of IFPRI's 2020 Advisory Council, has been awarded the Nobel Peace Prize for his groundbreaking work on microfinance.Several studies by IFPRI and its partners in the past two decades have substantially increased the development community's understanding of the workings of microfinance institutions. During that time period, the policy debate has shifted from whether microcredit works to how best to institutionalize financial systems that cater to the needs the world's poor people.
IFPRI recognizes the potential of microfinance as a key development strategy to reduce poverty and reach the Millennium Development Goals. Numerous impact assessment studies provide ample evidence of positive impact, and practitioners have provided numerous anecdotes of how women are empowered and their lives transformed. This confirms that many essential problems of the poor might be resolved by access to credit and other financial services -- the ability to acquire assets, to start businesses, to finance emergency needs and to insure against illness and disaster.
"Appropriately designed and efficiently delivered financial services can play a central role in improving the lives of millions of poor consumers, as well as farmers and other small business communities. By raising awareness across the globe, the Year of Microcredit provides a welcome impetus in further expanding and improving financial services to the poor, and especially to women. Scaling up microcredit while strengthening rural banking is especially needed in many countries."
Joachim von Braun
Director General, IFPRI
This page compiles research-based information resources by IFPRI and its partners. It also provides a list of some major web sites and information resources on microfinance.