Oikocredit unveils measures to improve social performance,in investment

Oikocredit unveils measures to improve social performance
in investment

‎Microfinance Focus, March 04, 2011: Oikocredit, a cooperative financial institution that offers loans or investment capital to MFIs, cooperatives, SMEs recently announced a slew of measures for their partners to improve social performance. Oikocredit offers funding to project partners in over 70 developing countries and a network of volunteers and staff attracts investments in 16 countries worldwide.

At a local level, all regional offices have appointed social performance management specialists to assist project partners with social performance development and management. Internally, Oikocredit has extended its expectations of project partners, advocating the Client Protection Principles to ensure end-clients are treated fairly. The Principles were integrated within new partner and new contract approval criteria.

These measures have been taken considering many questions posed to the microfinance industry in recent times. Oikocredit said “The growing sector has attracted stakeholders with varying motivations. Reports of abusive collection practices in microfinance institutions (MFIs) and over-indebtedness of clients have highlighted the importance of selecting the right partners for Oikocredit”.

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