PRISMA Microfinance Becomes First Fully Certified User of Progress out of Poverty Index™
Grameen Foundation today announced that PRISMA Microfinance of Peru is the first fully certified user of the Progress out of Poverty Index™ (PPI™). MF PRISMA piloted the PPI at two branches in 2008, and in 2009 began using it across the entire organization to target the poorest clients and track changes in their poverty levels. From a sample of clients who were new in 2009, 85 percent were surveyed a second time in 2010, demonstrating that 2.6 percent of the clients in the sample had crossed the national poverty line in one year’s time.
MF PRISMA was the first microfinance institution (MFI) to have its use of the PPI validated in all three categories of certification: basic, advanced and tracking over time. Its new status as a certified user will also be recognized on the Microfinance Information Exchange (MIX), the primary source for published financial and social performance data about MFIs.
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