The Evolution of Microfinance

Main

First cooperative of the Confederation of Financial Institutions (CIF) (Togo)

1969

First Muhammad Yunus loan (Bangladesh)

1976

Formalisation of the Grameen Bank

1983

BRI village units

1983

Exportation of the Grameen Bank model

1989

Transformation of PRODEM into a bank (Bolivia)

1992

First PARMEC law for West Africa cooperatives

1993

Creation of CGAP (Consultative Group to Assist the Poor)

1995

First Microcredit Summit

1997

“No Pago Movimiento” in Bolivia

1999

Creation of the Microfinance Information eXchange (MIX)

2002

First social audit tool (CERISE SPI)

2002

International Year of Microfinance

2005

First social ratings

2005

Creation of the Social Performance Task Force

2005

Nobel Peace prize awarded to Muhammad Yunus

2006

Compartamos’ IPO

2007

Repayment crises (Morocco, Nicaragua, Pakistan, Bosnia)

2008 - 2010

Launch of the Smart Campaign for Client Protection

2009

Microfinance crisis in India

2010

Principles for Investors in Inclusive Finance (PIIF)

2011

Universal Standards for Social Performance

2012

First Smart Campaign certifications (Bosnia and India)

2013

Other events