Microfinance in the Caribbean: How to Go Further
This document analyzes the possible challenges that hamper the growth of microfinance in the Caribbean region, and also what can be done to overcome these challenges.
The document highlights the following:
- Various internal and external factors affecting microfinance in Caribbean vis-à-vis those in Latin America;
- Conditions in favor of, against and neutral to microfinance in Caribbean;
- Four major challenges that faced by microfinance institutions (MFIs) in Caribbean;
- Performance of four Caribbean MFIs;
- Key credit methodologies used by MFIs;
- Factors explaining the difference between the success and the failure for an MFI.
Further, the document discusses the loan product design, its monitoring and various other pathways adopting that can improve the overall performance of MFIs and can lead them to success without assistance from any other external agency.