It was inspiring to have met people committed to their mission during the past week: Opportunity International helps those in need have access to financial services. By doing so, Opportunity helps them transform their lives. Opportunity is exactly the right name.
I have seen, how access to financial services transform lives, not only in an economic sense. Being able to develop a small business, to repair one’s home and send children to a nearby school gives people self-assurance and the confidence that they can do more. The transformation process often reaches the whole family or even a community.
Microfinance institutions face some big challenges: Their peers, regulation, external factors affecting their operation, an so on. In my eyes, one of the main challenges remains the efficient allocation of resources aligning economic and mission considerations at the same time.
Although it is common that microfinance institutions lend funds for working capital, the power of transformation arising from complementary services, such as financing of shelter or education should not be underestimated.
I have chosen a picture of two emeralds today, because I have written a page about education being a precious good. Through financing services devoted to education, many children have access to schools nearby or to school materials. This fact usually impacts the whole community.
My last statement is not really a summary or a conclusion. I want to express my hope (and it is said that the color of hope is green, as the emeralds), the hope that microfinance institutions, in general, may find and keep the delicate balance between mission and sustainability and that they can continue transforming lives around the world.