2023 Microfinance Index Report
Based on interviews with over 32,000 borrowers in 32 countries spanning Asia, Africa, and Latin America, this report explores the impact of microfinance on the lives of some of the world's most marginalized communities. It includes detailed insights into topics such as:
- Gender equality: 83 percent of women taking part in the poll say microfinance borrowing has improved their confidence, while two thirds agree it's helped them make independent financial decisions.
- Choice of financial services in developing countries: half of respondents globally say they have no alternative to the microfinance lender they've borrowed from.
- Microfinance lenders are widening access to financial services. These include healthcare, savings, and business services. People using multiple services report far better individual, business, and household incomes.
- People borrowing together fare are more financially resilient: 81 percent of respondents borrowing together feel able to cover an unforeseen expense.
- Microfinance borrowing and stress: over one in five (22 percent) of respondents say they have to cut back on food to make loan payments. 27 percent view their loans as a "burden".