Microenterprise Results Reporting:

2004 Annual Report
Microenterprise Results Reporting: 2004 Annual Report 2

TABLE OF CONTENTS

A TEN-YEAR PERSPECTIVE............................................................................................... 4

Microenterprise Funding in Regions by Type of Activity........................................................ 5

Funds for Enabling Environment ............................................................................................ 8

Funding by Type of Institution ............................................................................................... 9

Funds for Very Poor Clients ................................................................................................. 11

INSTITUTION RESULTS .................................................................................................... 14

Financial Services................................................................................................................. 14

Enterprise Development......................................................................................................... 24

Policy Reform/Enabling Environment .................................................................................. 26

Methodology Annex ............................................................................................................... 27

Table 1. Sources of USAID Funds for Microenterprise by Appropriation Account, FY 1995-2004

Table 2. FY 2004 Funding in Regions by Activity

Table 3. FY 2004 Funding in Regions by USAID Bureau

Table 4. Top Mission Funding Amounts by Activity, FY 2004

Table 5. Funding for Enabling Environment Activities, FY 1999-2004

Table 6. Funding by Type of Recipient, FY 2004

Table 7. Annual Funding to PVO Networks, FY 2004 and FY 1997-2004

Table 8. Percentage of Funds Benefiting the Very Poor, FY 2004

Table 9. Clients of Lending Institutions FY 2002-2004

Table 10.Value of Outstanding Loans at Lending Institutions FY 2002-2004

Table 11. Average Loan Balance by Region, FY 2000-2004

Table 12. Median Loan Balance by Region FY 2002-2004

Table 13. Mean Loan Size of Primary Loan Product and Region, FY 2004

Table 14. Clients with Poverty Loans, FY 2004

Table 15. Location of Microfinance Clients

Table 16. Portfolio-at-Risk and Loan Loss Rates, FY 2004

Table 17. Sustainability of USAID-Supported Institutions, FY 2004

Table 18. Number of Savers and Savings Amounts, FY 2004

Table 19. Leading Savings Institutions or Networks Supported by USAID, FY 2004

Table 20. Clients of USAID-Supported Enterprise Development Programs, FY 2004

Table 21. USAID Funding for Microenterprise Obligation Recipients, FY 2004

Table 22. Sub-obligations Made by Institution Type & Activity, FY 2004

Table 23. USAID’s Microenterprise Survey Respondents, FY 2004

Table 24. Response Rates for Institutions Receiving Obligations in FY 2004

Figure 1. Comparison of Poverty Loan Sizes in 1995 and 2004 US Dollars

Figure 2. Percentage of Women Borrowers by Region, FY 2000-2004

Figure 3. Borrowers of USAID-Supported Near Eastern Lending Institutions, FY 2000-2004

Figure 4. Median Loan Balance for Institutions by Region vs. Average Loan Balance for

Aggregated Portfolio (US$625)
Microenterprise Results Reporting: 2004 Annual Report 3

ACRONYMS

ACCION Americans for Community Cooperation in Other Nations

ACDI/VOCA Agricultural Cooperative Development International/Volunteers in

Overseas Cooperation and Assistance

ADRA Adventist Development and Relief Agency

AFR Africa (USAID)

ANE Asia and the Near East Region (USAID)

ANI Andean Counternarcotics Initiative

ATA Aid to Artisans

BDS Business Development Services

DA Development Assistance

DCA Development Credit Authority

CACEDRF Central American and Caribbean Disaster Relief Fund

CLUSA Cooperative League of the USA

CSH/HIV Child Survival and Health/Human Immunodeficiency Virus

DFID Department of International Development (UK)

ED Enterprise Development

ESF Economic Support Funds

EE Enabling Environment

E&E Europe and Eurasia Region (USAID)

EGAT/MD Economic Growth, Agriculture, Trade/Office of Microenterprise

Development

EU European Union

FINCA Foundation for International Community Assistance

FS Financial Services

FSA Freedom Support Act

FVP Funds that Benefit the Very Poor

IFAD International Fund for Agricultural Development

INC International Narcotics Control

LAC Latin America and the Caribbean Region (USAID)

MD USAID/Washington Microenterprise Development office

MED Microenterprise Development

MFI Microfinance Institution

MRR Microenterprise Results Reporting

MSRA Microenterprise for Self Reliance Act (2000)

NGO Nongovernmental Organization

PVC Office of Private and Voluntary Cooperation (USAID)

PVO Private Voluntary Organization

SAI Special Assistance Initiatives

SEED Support for Eastern European Democracy

SOAG Strategic Objective Agreement

USAID United States Agency for International Development

WOCCU World Council of Credit Unions
Microenterprise Results Reporting: 2004 Annual Report 4

MICROENTERPRISE RESULTS REPORTING

2004 ANNUAL REPORT

In fiscal year (FY) 2004, USAID’s funding for microenterprise development (MED) reached

$197 million, benefiting millions of microenterprises and households with essential financial

services and key enterprise support and policy reform. This report summarizes USAID’s FY

2004 MED funding activity. It was compiled by Microenterprise Results Reporting (MRR),

USAID’s official system for tracking its microenterprise investments.

A TEN-YEAR PERSPECTIVE

The agency has tracked its microenterprise investments since 1988. In recent years and with

growing support from the U.S. Congress, these investments have increased steadily. (Some

fluctuations in growth related to project funding cycles are evident over this ten-year period.)

Table 1 presents a ten-year perspective on USAID support to microenterprise development,

during which time the U.S. has been the leading bilateral donor to the sector.

Funding in FY 2004 increased by almost 10 percent over FY 2003 to US $197 million. Table 1

shows a breakdown by Agency fund account that corresponds with separate Congressional

appropriations.1

Table 1. Sources of USAID Funds for Microenterprise by Appropriation Account

(US$ millions), FY 1995-2004

Fiscal Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

DA193.3 72.9 83.3 79.9 74.1 88.3 85.3 80.7 89.9 119.8

ESF222.9 16.1 24.5 33.9 33.0 25.2 27.9 48.1 28.4 17.7

FSA 5.4 20.6 14.3 12.8 30.3 19.6 33.4 41.0 35.1

SEED/SAI3 4.7 24.8 4.6 13.0 9.2 7.6 6.7 14.5 13.9

CACEDRF4 3.2 8.0

CSH/HIV5 0.8 0.5 0.5 1.0 0.6

Local

Currency 17.3 12.2 11.8 12.4 17.3 8.8 13.7 18.6 4.8 10.0

Total 133.5 111.4 165.0 145.1 153.4 170.6 154.6 188.0 179.6 197.1

1 Development Assistance funds include the Development Fund for Africa. In 2004, DA also includes $21.4 million

in funds appropriated under the Andean Counternarcotics Initiative (ACI) and International Narcotics Control (INC)

in Colombia and Peru; and $7.2 million for activities in Iraq through the Iraq Reconstruction and Relief Fund

(IRRF).

2

In 2004, includes funds appropriated under the Middle East Partnership Initiative (MEPI).

3

Funds appropriated under the Support for Eastern European Democracy (SEED) Act, under Special Assistance

Initiatives (SAI), or for Assistance for Eastern Europe and the Baltics (AEEB).

4 Central America and Caribbean Emergency Disaster Recovery Fund.

5 Child Survival and Health/HIV. While shown here, these funds have not been counted toward USAID’s assistance

target for FY 2004 because they count toward another congressional earmark.

1

Note that the amounts shown here for prior years may have changed from the amounts published in the reports

issued for those years. The changes reflect updated reporting from USAID operating units.
Microenterprise Results Reporting: 2004 Annual Report 5

The Development Assistance (DA) account is the main appropriation under which USAID

carries out its activities in Africa, Asia, and Latin America. Funds for Alternative Development

in Colombia ($20.8 million) represent 17 percent of overall DA funds for microenterprise in FY

2004. Funding in the Europe and Eurasia region remained high, with funds coming from the

Freedom Support Act (FSA) and Assistance for Eastern Europe and the Baltics (shown under

SEED/SAI in Table 1).

Notable in FY 2004 was the decrease in Enterprise Support Funds (ESF) that originates with

appropriations to the Department of State. Overall ESF support to the microenterprise sector was

16 percent of total microenterprise funds in FY 2003, but only 9 percent of total funds in FY

2004.

Funds from local currency (from food aid monetization and balance of payments programs)

channeled to microenterprise development continue to play a minor part in the overall funding

picture. They account for 5 percent of total funding in FY 2004.

Microenterprise Funding in Regions by Type of Activity

Table 2 presents data on how funds for microenterprise development were distributed across

world regions. Funding to microenterprise development in FY 2004 demonstrates a pattern that

has not been observed since USAID first began tracking its assistance to the microenterprise

sector. For the first time, overall funding in enterprise development (ED)2 exceeds funding in

microfinance.3 This pattern is observable in all four geographical regions. In Africa, ED funding

has typically exceeded funding for microfinance, but in other regions this growing emphasis on

ED is new. In all, twenty-four USAID missions provided grants and assistance of more than $1

million for a combined total of $80 million to ED. One hundred nineteen institutions were

supported through this assistance.

In the LAC region, $16.4 million, or one-third of total funds to the region, was obligated for

enterprise development programs in Colombia. In fact, funding in the LAC region more than

doubled from 2003 to 2004, largely due to significant funding coming through

USAID/Colombia. In addition, funding was spread throughout more LAC countries in 2004 than

in 2003. A comparison of LAC funding from 2000 to 2004 shows that funding for microfinance

programs in LAC has remained at fairly consistent levels, with occasional peaks resulting from

special relief appropriations. Support for ED has been more variable and reflects funding for

2 Enterprise development services refers to the many interventions that help microenterprises start, survive, and

grow, including those that help them acquire skills and knowledge, gain access to financing and other inputs, and

develop the commercial relationships with other firms (both micro-scale and larger firms) required to integrate into

higher value supply chains and markets. Also includes support for enabling environment. Enabling Environment

refers to activities that promote appropriate policy, regulations, and administrative practices governing the business

environment in which microenterprises operate.

3 Microfinance refers to the provision of financial services adapted to the needs of low income people such as

microentrepreneurs, especially the provision of small loans, the acceptance of small savings deposits, and simple

payments services needed by microentrepreneurs and other poor people. Also includes support for enabling

environment. Enabling Environment refers to activities that promote appropriate legal, regulatory and supervisory

practices for both public and private microfinance institutions.
Microenterprise Results Reporting: 2004 Annual Report 6

start-up of new programs. In 2004 USAID had start-up activities in three countries in the region:

Brazil, Panama and Colombia.

Table 2. FY 2004 Funding in Regions by Activity (US$ Millions)

Financial Services &

Enabling Environment

Enterprise Development

& Enabling Environment Total

Amount Percent Amount Percent Amount Percent

Africa $13.0 33 $25.9 67 $38.9 20

Asia/Near East $21.7 47 $24.3 53 $46.0 23

Europe/Eurasia $17.6 36 $31.4264 $49.0 25

Latin America/Caribbean $20.1 44 $26.1 56 $46.2 23

Worldwide1$8.5 50 $8.5 50 $17.0 9

Total $80.9 41 $116.2 59 $197.1 100

1 Refers to funds provided to North American headquarter operations for institutions operating worldwide.

2

$10.1 million of this amount supported enterprise enabling environment activities.

In Africa, USAID assistance takes into consideration the readiness of those countries that are

already on the path of “transformational development” as well as the vulnerability of “fragile

states” that may be emerging from years of conflict. Throughout Africa, MED support

institutions seek better ways to serve poor and very poor clients living in remote rural areas. At

the same time, a number of missions maintain a focus on expanding openness to trade and

investment, with greater emphasis on improving the policy and regulatory environment in

support of outward-oriented private sector growth. Funding to the microenterprise sector may be

a key component of strategies to improve productivity and trade in agribusiness and agriculture.

The majority of African institutions with ED funding in 2004 worked directly with smallholders

to support improved market linkages and access to market information, agricultural inputs, micro

irrigation, dairy production, or farmer associations.

USAID partners in Colombia provide a range of financial and enterprise development

services to help build the incomes of microentrepreneurs, and to help eliminate coca

production by creating alternative income generating opportunities including alternative,

legal crops and livestock production. One program, for example, trains coffee farmers

with the skills and market savvy they need to sell their coffee as a specialty product.

Microfinance programs are working to extend loans and other financial services to

internally displaced populations and other vulnerable groups.

Despite steady economic growth in Mozambique, a country of 18 million, the great

majority of people (78%) live on less than $2 a day, and well over one third live on less

than $1 a day. USAID supports a number of private voluntary organizations (PVOs) that

provide enterprise support services to smallholder farmers, farmer associations and

agro-processors. These partners include TechnoServe, CLUSA, ACDI/VOCA, World

Vision, Save the Children, Food for the Hungry (FHI), CARE, Africare and ADRA.

Income gains are sometimes impressive. In the first six years of a program managed by

CLUSA, for example, households participating in producer associations have seen their

incomes increase from $35 to $55 over previous years¶ incomes. USAID has been the

lead donor supporting smallholder agriculture in Mozambique, and now several other

donors (the International Fund for Agricultural Development (IFAD), the United

Kingdom¶s Department for International Development (DFID) and the European Union)

have expanded upon USAID-led initiatives in rural enterprise development.
Microenterprise Results Reporting: 2004 Annual Report 7

In Asia and the Near East, new developments include large sums for enterprise development

funding in Afghanistan, Iraq, India, and Mongolia. These amounts contribute to the higher

percentage of funding for ED than for microfinance in the region. In Egypt, more than $7 million

supported existing programs that strengthen financial services in several urban centers.

Funding in Europe and Eurasia has come down from its peak of $55 million in FY 2003. In

2004, Ukraine, Armenia, Serbia, Moldova and Croatia each made major microenterprise

investments. Ukraine has several well-established programs that continued in 2004; in addition,

the USAID mission programmed a significant amount of funds ($8 million) to improve that

country’s MED enabling environment.

Table 3 presents the same funding data on the source of funds within the agency, i.e., funds are

shown by the USAID administrative bureau responsible for budgeting and programming. The

total amount of funding by all bureaus increased by $17.5 million, or 9.7 percent, from 2003 to

2004. Funding from the Africa and Asia/Near East Bureaus stayed roughly the same, while

funding from the Europe and Eurasia Bureau decreased by 12 percent. Funding from the Latin

America/Caribbean Bureau more than doubled (increase of 130 percent) due to new initiatives

undertaken in Colombia, as noted above. Without these special use funds for LAC, funding in

the region would be stable at around $20 million.4

Table 3. FY 2004 Funding in Regions by USAID Bureau (US$ Millions)

4

Periodic increases in this amount of funding have come from disaster relief in Honduras, El Salvador, and

Jamaica. Peru has received benefit through Title II, a food monetization program under P.L. 480.

Region

Financial Services &

Enabling Environment

Enterprise Development

& Enabling Environment Total

Amount Percent Amount Percent Amount Percent

Africa Bureau $12.6 33 $25.6 67 $38.2 19

Asia/Near East Bureau $20.9 47 $24.0 53 $44.9 23

Europe/Eurasia Bureau $17.5 36 $31.4 64 $48.9 25

Latin America/Caribbean

Bureau $18.9 42 $26.1 58 $45.0 23

Central Bureaus $11.0 55 $9.1 45 $20.1 10

Total $80.9 41 $116.2 59 $197.1 100
Microenterprise Results Reporting: 2004 Annual Report 8

Table 4. Top Mission Funding Amounts by Activity, FY 2004 (US$ Millions)

Mission

Financial

Services

FS Enabling

Environment ED

MED

Enabling

Environment

Total All

support

Colombia $5.1 - $16.4 - $21.5

Ukraine $0.9 $.7 $3.6 $8.4 $13.6

Egypt $7.4 - - - $7.4

Iraq - - $7.2 - $7.2

Pakistan $5.0 - - - $5.0

Uganda $1.6 - $3.2 $.2 $5.0

Tanzania - - $4.9 - $4.9

Peru $2.4 - $2.4 - $4.8

Afghanistan $0.9 $.1 $3.5 - $4.5

Moldova $0.2 $.2 $2.8 $1.0 $4.2

Armenia $0.3 - $3.9 - $4.2

Serbia $0.1 - $4.0 - $4.1

Total $23.9 $1.0 $51.9 $9.6 $86.4

Table 4 shows which country missions obligated large amounts of funding for microenterprise

development. The total amount obligated by these twelve missions represents 44 percent of total

agency funding for microenterprise. The share of funding for financial services among these

missions is lower (29%) than the amount (41%) across the entire agency. Large start-up activities

in several of these countries (Colombia, Iraq, Afghanistan, Serbia) contribute to the greater

overall amount of funding to ED than microfinance in FY 2004. This table demonstrates a recent

trend in agency MED funding: large new programs in many parts of the world to support

reconstruction and reconciliation following conflict. Such programs serve a vital role in helping

nations to rebuild and the poorest entrepreneurs to get back on their feet; they often require major

capital investment to launch and take time to build scale, given the enormous socioeconomic,

political and even security challenges they confront.

Funds for Enabling Environment

USAID funding to promote policy change and other reforms that create a more enabling

environment for microfinance and enterprise development is a key element of USAID’s MED

strategy. Laws, regulations, policies and institutions comprise the enabling environment for

microfinance and enterprise development. Enabling environment work has recently begun to

achieve a higher profile in the Agency, in part as a result of the attention that the World Bank’s

Doing Business report has brought to the subject. Changes to the legal and regulatory

environment that create a more level playing field for microenterprises may take many years to

bring about but then have a profound and lasting effect on households and the productivity,

growth and competitiveness of enterprises, sectors and national economies. Improvements in the

enabling environment – for example, adjusting financial sector laws to permit the entry of new

players into microfinance and to increase profitability of the activity – may also be essential to

the sustainable delivery of finance and enterprise services. And reform initiatives that increase

the competitiveness of key value chains and sectors of the economy in which poorer households
Microenterprise Results Reporting: 2004 Annual Report 9

and smaller firms participate, such as dairying or horticulture, can boost incomes for tens of

thousands of entrepreneurs and workers.

USAID missions in all regions have funded policy reform and enabling environment activities.

More than half of the funds for this purpose, however, were directed to the emerging economies

of Europe and Eurasia, where the major reforms of the 1990s that focused on macroeconomic

laws and policies must now be followed by comparable work on the “microeconomics reform

agenda.” The big increase in funds for MED enabling environment in FY 2003 and FY 2004 in

particular derives largely from significant policy initiatives in Ukraine ($6.4 million in 2003 and

$9.1 million in 2004). For the entire region, more than 25 percent of MED funds were directed

toward improving the enabling environment in both years. The percentage (11.9%) of total

funding was close to what was provided for this purpose in FY 2003.

Table 5. Funding for Enabling Environment Activities, FY 1999-2004 (US$ Millions)

Fiscal Year 1999 2000 2001 2002 2003 2004

Microfinance Enabling Environment $3.290 $13.499 $8.177 $7.576 $7.099 $8.551

Microenterprise Enabling Environment $3.700 $5.141 $5.715 $5.295 $16.438 $14.830

Total Funding for MF and ME

Enabling Environment $6.990 $18.460 $13.892 $12.871 $23.537 $23.381

As Percent of Total USAID Funding 4.6% 10.8% 8.9% 6.8% 13.1% 11.9%

Funding by Type of Institution

Table 6 presents data that shows that almost half of total FY 2004 microenterprise funding went

directly to non-profit institutions, including U.S.-based PVOs (18%), local NGOs (24%),

cooperatives (3%), credit unions (1%), and research and educational institutions (2%). In

addition, many more non-profits received support indirectly through “umbrella agreements,” in

which use of a lead implementer enables USAID to cost-effectively provide sub-awards (subgrants or contracts) to multiple (sometimes numbering in the dozens) other microenterprise

institutions. (See page 31 for more on details on sub-awards.)

The increase in funding for consulting firms between 2003 and 2004 (from 33% to 38%) is due

largely to the initiation of large umbrella programs in some countries where local capacity is

limited and multi-level interventions are required for program success. For example, a

microfinance umbrella program might provide targeted capacity-building support to many

smaller financial institutions, initiate a credit information bureau, and work to change laws and

regulations that impede profitable delivery of financial services to the poor. An enterprise

development umbrella program might work at all levels of a value chain that is critical to the

earnings and livelihoods of poorer households; an agribusiness umbrella program, for example,

might work to improve policies that impede the sector’s competitiveness while facilitating new

market linkages, support services for producers, formation of smallholder associations, and

improved availability of inputs, micro-irrigation and production technology. While consulting

firms are more likely to have the requisite project management and technical capacity to

coordinate complex umbrella programs with diverse interventions, non-profits often play key

roles in umbrella programs, in some cases as the overall umbrella manager and in others as
Microenterprise Results Reporting: 2004 Annual Report 10

providers of specialized “niche” services such as organization of credit unions or village banking

services.

Table 6. Funding by Type of Recipient, FY 20041

Institution Type

Obligation

Amount

(US$ millions)

Percent of Total

Obligations

Bank $4.8 2.44%

Business Association $1.3 0.66%

Consulting Firm $75.3 38.20%

Cooperative $5.9 2.99%

Credit Union (CU) $2.4 1.22%

Finance Company $1.0 0.51%

For Profit $1.1 0.56%

Gov. Agency $3.2 1.62%

NGO $48.0 24.35%

Non Bank Financial

Institution $7.0 3.55%

Other $3.1 1.57%

PVO $35.9 18.21%

Research/Educational $3.8 1.93%

USAID2$4.3 2.18%

Total $197.1 100.00%

NGO, PVO, Coop., CU $92.2 46.86%

Consulting Firms $75.3 38.22%

Other For Profits $13.9 7.07%

Total All Other Entities $15.7 7.94%

Total $197.1 100.00%

1 Table 6 shows obligations rather than the ultimate recipients of funds – while USAID might obligate the funds for

an umbrella program to a consulting firm, for example, a substantial share of the overall flowing might be

designated for sub-awards to other types of institutions. Such sub-awards are not shown in this table. As a result,

obligations data such as this overstate the amount of funding actually used by consulting firms, since substantial

funding might be sub-obligated.

2 Obligations to USAID include those funds that were used for microenterprise project management and those for

which specific implementing institutions had not yet been specified.

With USAID assistance, North American-based PVOs have established extensive multi-country

networks of local microenterprise development institutions through which they deliver loan

capital, enterprise development services, technical assistance and other forms of support. In this

manner, PVOs have played a critical role in developing the capacity of local institutions to

deliver high-quality, sustainable financial services and enterprise development support while

achieving significant scale and depth of outreach. With the resultant growth of local NGO

capacity, USAID may be able to provide funding directly to local NGOs, rather than through a

parent organization headquartered in North America.

In 2004, funding to 15 PVO networks -- shown in Table 7 -- amounted to 28 percent of total

microenterprise funding.
Microenterprise Results Reporting: 2004 Annual Report 11

Table 7. Annual Funding to PVO Networks, FY 2004 and

1997-2004

PVO Network FY 2004 Award

(US$ Thousands)

Total USAID

Awards 1997-2004

(US$ Thousands)

Avg. Annual

Award

(US$ Thousands)

ACCION International $2,472 $19,669 $2,459

ACDI/VOCA $15,889 $51,642 $6,455

Aid to Artisans (ATA) $2663 $20,007 $2,501

CARE International $234 $18,647 $2,331

Catholic Relief Services $12,334 $32,559 $4,070

CHF (formerly Cooperative

Housing Foundation)

$4,391 $35,219 $4,402

Enterprise Works Worldwide

(formerly Appropriate

Technology International)

$1,250 $22,291 $2,786

FINCA International $1,526 $54,460 $6,808

Mercy Corps International $2,434 $15,318 $1,915

National Cooperative

Business Association

$1,984 $16,080 $2,010

Opportunity International $2,266 $36,223 $4,528

Save the Children Federation $391 $26,086 $3,261

TechnoServe $4,217 $43,276 $5,410

World Council of Credit

Unions (WOCCU)

$2,386 $34,757 $4,345

World Vision Relief and

Development

$1,208 $13,234 $1,654

TOTAL Funding $55,643 $439,467 $54,933

Funds for Very Poor Clients

The 2000 Microenterprise for Self Reliance Act (MSRA) mandates that at least one-half of all

USAID funding support for microenterprise development shall benefit the very poor. The 2000

Act established a loan size threshold as a proxy to use in estimating the poverty status of

microenterprise development clients. A loan that falls under the threshold is assumed to benefit a

very poor client. The loan thresholds were set (in 1995 U.S. Dollars) at:
Microenterprise Results Reporting: 2004 Annual Report 12

• $300 in Asia, the Near East, and Africa

• $400 in Latin America and the Caribbean

• $1,000 in Europe and Eurasia

For microfinance institutions, the Funds Benefiting the Very Poor (FVP) is equal to the

percentage of the total loan portfolio held in “poverty loans” (i.e., below the loan size threshold).

For enterprise development institutions, the FVP is equal to the percentage of clients estimated to

have poverty loans from any source. Table 8 shows the FVP for microfinance and ED

institutions in FY 2004. Because policy institutions do not report client data, they are excluded

from Table 8.5

Using the proxy measure, the share of USAID funding benefiting the very poor was 28 percent

in FY 2004, compared with 32 percent in FY 2003. This decrease is related to two factors that

surfaced in FY03 and are addressed at some length in the FY 2003 report:

1) Increased microenterprise programming in the Europe and Eurasia region, which has a

lower incidence of extreme poverty than the other regions; and,

2) Increased support for enterprise development institutions, for which the loan size proxy is

both difficult to estimate and largely or completely unrelated to their work.

As MRR noted in the FY 2003 report with regard to the first factor, in Europe and Eurasia,

USAID is working with a wide range of institutional types, fewer of which than in other regions

work exclusively or primarily with those who meet the legislated definition of “very poor.” As

funding in this region increases, it has a direct bearing on lowering the overall percentage of

microenterprise funds that benefit “very poor” people, which make up a small proportion of the

region’s total population.

The second factor, also addressed in the FY 2003 report, is that the great majority of enterprise

development institutions simply do not track whether their clients have poverty loans,

particularly if the institutions do not offer loans themselves. The majority (60%) of ED

institutions reported no poverty loans held by their clients. Because of the weak link between the

proxy (loan size) and the activities of these institutions, many ED institutions either cannot or do

not respond to this portion of the survey. Poverty loan percentages, if reported at all by these

institutions, are at best very rough estimates. As a result of these factors, it is likely that the FVP

reported by enterprise development institutions significantly understates the actual percentage of

funds benefiting the very poor, particularly since the great majority of clients served by USAIDsupported ED awardees (94%) reside in rural areas, where poverty incidence is consistently

5

The Microenterprise for Self-Reliance Act was amended in 2003 to define the very poor as either (1) those living

in the bottom 50 percent of people below the official national poverty line or (2) those living on the equivalent of

less than $1 per day (adjusted for 1993 purchasing power parity). In compliance with the amended 2000 Act,

USAID currently funds and supports research to develop, test, and validate tools for assessing the poverty levels of

current or prospective microenterprise development clients. Beginning no later than October 1, 2006, USAID will

require that institutions applying for microenterprise assistance document their outreach to very poor clients using

one of the certified poverty assessment tools. In the meantime, the loan size thresholds specified in the MSRA of

2000 remain the operational proxy used to estimate “very poor” status.
Microenterprise Results Reporting: 2004 Annual Report 13

$300 $400

$1,000

$372 $496

$1,240

AFR/ANE LAC E&E

2004 1995

higher than in urban areas (see Table 20). It seems highly unlikely, for example, that in Africa

94% of the ED clients were rural and yet only 17% were very poor. Rather, this reported data

likely reflects the limitations of the reporting methodology as established by law. And as the

portion of microenterprise funding that goes to ED activities increases, the effect of this

understatement on the overall FVP calculation for the Agency intensifies.

Another factor that may contribute to a low percentage of the portfolio of USAID-supported

microfinance institutions (MFIs) in poverty loans is that most institutions reported loan portfolio

valued at current dollars rather than 1995 dollars, thus undervaluing the amount of portfolio that

is held in poverty loans. With each passing year, this particular distortion grows. Figure 1

shows the difference between dollars valued in 2004 and 1995; 1995 dollars have increased in

value by 24 percent.

Figure 1. Comparison of Poverty Loan Sizes in 1995 and 2004 US Dollars
Microenterprise Results Reporting: 2004 Annual Report 14

Table 8 shows that three regional bureaus and the central bureaus met the mandated agency

target of 50 percent microfinance funding for the very poor. Only the Europe and Eurasia Bureau

did not meet the target. The result is that 49 percent of total USAID microfinance funding is

estimated to have directly benefited very poor clients.

Table 8. Percentage of Funds Benefiting the Very Poor, FY 2004

Bureau

Total

Microenterprise

Funding

(US$ millions)

Percent of

Microfinance

Funding

For Poverty

Lending

Percent of

Enterprise

Development

Funding for

Poverty Loan

Clients

Percent of

Total Funding

Benefiting the

Very Poor

Africa Bureau $36.4 57% 17% 24%

Asia/Near East Bureau $43.0 59% 36% 49%

Europe/Eurasia Bureau $36.5 28% 5% 18%

Latin America/Caribbean Bureau $42.5 51% 6% 17%

Central Bureaus $14.0 60% 18% 48%

Total all Bureaus1$172.4 49% 15% 28%

1

The total of $172.4 million excludes funds for enabling environment work, program management, and research

activities for which there is no client data that can be used to determine whether the beneficiaries were “very poor.”

In the case of funding for ED programs, no region has met the 50 percent mark in FY 2004 using

the proxy measure established by Congress. In the LAC region, for example, USAID/Colombia

reported new ED programs that had very few clients with poverty loans.

INSTITUTION RESULTS

Financial Services

In FY 2004, 358 institutions had active agreements with USAID for the provision or support of

microfinance to microentrepreneurs and low-income households. Of those, 308 institutions

completed the MRR survey for a response rate of 86 percent. Included in the 308 are 35 apex

institutions or institutions managing umbrella programs that channeled funds or technical

assistance to retail lending institutions and have no client data of their own to report. Of the

remaining 273 institutions, another 32 could not report client data because either they were too

new and had no lending activities yet, or the nature of the funded activity did not include retail

lending. The response rate in 2004, while very respectable, is down from 2003, where 340 MFIs

participated in the survey out of a universe of 376 (90%).

USAID provided new obligations to 101 microfinance institutions in FY 2004. Of that number,

72 or 71 percent responded to the annual survey, representing $44.3 million in obligations or 62

percent of funding for financial services.
Microenterprise Results Reporting: 2004 Annual Report 15

Table 9. Clients of Lending Institutions FY 2002-20046

Region

Clients FY 20021

(thousands)

Clients 20032

(thousands)

Clients 20043

(thousands)

Africa 655.8 791.4 788.6

Asia 531.1 651.0 514.7

Near East 238.8 286.0 631.3

Europe/Eurasia 197.6 211.8 218.5

Latin America/Caribbean 1,107.9 1,647.5 1,625.1

Total 2,731.2 3,587.7 3,778.2

1

Data comes from 283 MFIs.

2 Data comes from 288 MFIs.

3 Data comes from 241 MFIs.

As Table 9 demonstrates, the overall number of clients reached through USAID-supported MFIs

has increased each of the past two years, by 31 percent in FY 2003, and by another 5 percent in

FY 2004. For the 114 institutions reporting in all three years, the growth rate in number of clients

was a very impressive 58 percent over the three-year period. In the Near East region, the

dramatic increase in clients between 2003 and 2004 was caused primarily by a change in the mix

of reporting institutions, in particular the addition of new reporters in Afghanistan and Morocco.

Table 10. Value of Outstanding Loans at Lending Institutions, FY 2002-2004

Region

Outstanding

Loans

FY 2002

(US$ millions)

Outstanding

Loans

FY 2003

(US$ millions)

Outstanding

Loans

FY 2004

(US$ millions)

Africa $129.2 $273.1 $273.5

Asia $62.2 $88.1 $82.2

Near East $82.5 $92.2 $138.9

Europe/Eurasia $137.8 $271.9 $328.3

Latin America/Caribbean $859.0 $1,372.0 $1,540.3

Total $1,270.7 $2,097.3 $2,363.2

Table 10 shows that, as in previous years, MFIs in the Latin America and Caribbean region have

almost two thirds of the total FY 2004 loan portfolio held by USAID-assisted microfinance

institutions. LAC institutions also account for more than 40 percent of the clients in FY 2004. In

the Near East region, there was impressive growth in the amount of portfolio held by USAIDsupported institutions, an increase of 50 percent.

6 Many MFIs have been funded by USAID at different times and for different reasons, but not in consecutive years;

hence, these institutions appear in USAID’s portfolio intermittently, only in those years when they were under active

USAID supervision. Forty-three percent (118) of 2004 reporters participated in the survey all three years, though not

all of these could report data each year. An additional 16 percent (43) of the FY 2004 reporters also reported in FY

2003, but not FY 2002. Thirty-eight percent (104) of the FY 2004 institutions reported only in FY 2004.
Microenterprise Results Reporting: 2004 Annual Report 16

Reaching Women Clients

USAID has had a longstanding commitment to ensure that women benefit from microenterprise

services. Research across many countries has found that women have much less access than men

to essential services that would enable them to enhance their income generating potential though

microenterprise activity. At the same time, women’s income has been shown to flow more

directly than men’s into expenses for the care of children and households. Thus, fitting services

to the needs of women clients is a particularly important strategy in reaching poor households.

Because women have been marginalized in many world economies, meeting the challenge of

serving women clients has required extra effort -- effort that many MFIs have made part of their

mission.

Figure 2 demonstrates that women as the percentage of borrowers at USAID-assisted lending

institutions in all regions is greater than 50 percent; in Asia, the Near East, and Latin America,

women loan clients account for 60 percent or more of all borrowers.

Figure 2. Percentage of Women Borrowers by Region, FY 2000-2004

0

10

20

30

40

50

60

70

80

90

100

2000 2001 2002 2003 2004

Percent

Africa Asia Near East Europe/Eurasia Latin America/Caribbean

Efforts to reach women clients in the Near East region have been particularly successful over the

past five years. Since FY 2000, both the number and percentage of women clients in the region

have steadily increased. In FY 2000, when 88,000 lending clients participated in USAID assisted

programs, only 27 percent or 23,760 were women. In FY 2004, there were 631,000 Near Eastern

clients, of which 72 percent, more than 450,000, were women.
Microenterprise Results Reporting: 2004 Annual Report 17

Figure 3. Borrowers at USAID-Supported Near Eastern Lending Institutions, FY 2000-

2004

Number of Borrowers

 ('000's)

0

100

200

300

400

500

2000 2001 2002 2003 2004

Year

Women

Borrowers

Men

Borrowers

Table 11. Average Loan Balance by Region, FY 2000-2004

2000 2001 2002 2003 2004

Africa $193 $189 $197 $345 $347

Asia $179 $81 $117 $135 $160

Near East $498 $332 $345 $322 $220

Europe/Eurasia $432 $398 $697 $1,283 $1,502

Latin America/

Caribbean

$595 $558 $774 $833 $948

Total $401 $317 $465 $585 $625

Loan balances at USAID-supported institutions averaged $625 in FY 2004, an increase over the

average loan balance of $585 in FY 2003. Contributing to this was an upward shift in the average

loan balance in both the LAC and E&E regions. In the LAC region, the average loan balance

increased from $833 to $948; in the E&E region, the increase was from $1283 to $1502.

Another perspective on the loan portfolios of assisted institutions can be obtained by comparing

the average loan balance for USAID-assisted institutions individually. Most of the institutions

have average loan balances well below $625, an average produced by aggregating the portfolio

for all MFIs reporting data. The median loan balance for all USAID-assisted institutions is only

$326, or slightly more than half of the average $625. The variance between these two figures

relates to the fact that USAID supports a small number of MFIs in every region (CredAgro/

Azerbaijan, WOCCU/Bolivia, CHF/Romania, Ahli Microfinancing Company/Jordan,

PADME/Benin, to name a few) that offer larger sized loans that meet the needs of more

established, growing microenterprises. These larger loans inflate the total portfolio, contributing

to the higher average loan balance based on aggregated portfolio. Many of these same

institutions also provide smaller loans but the overall loan portfolio is weighted by the high-end
Microenterprise Results Reporting: 2004 Annual Report 18

loans. The majority of USAID-supported institutions have average loan balances that are much

smaller than the average for the aggregated portfolio of all USAID-assisted institutions.

Figure 4. Median Loan Balance for Institutions by Region vs. Average Loan Balance for

Aggregated Portfolio (US$625)

Asia

All Regions

Near East

Latin America

Europe/Eurasia

Africa

0

200

400

600

800

1000

1200

US $ 625 Avg

Loan Balance

The lower median loan balance for all reporting institutions holds for all regions. Even in Europe

and Eurasia, the median loan value is only slightly higher than the MSRA poverty loan size of

$1000; median loan value in the E&E region is also lower in FY 2004 than it was in either FY

2003 or FY 2002, despite lower average loan balances for the aggregated portfolio in those

years.

The sharp increase in FY2004 in median loan balance in the LAC region can be attributed to the

addition of new programs in Colombia, where loan balances were higher than in other LAC

countries (which is explained in large part by the size of the economy and the higher average

incomes in this more developed but highly unequal country).

Table 12. Median Loan Balance by Region, FY 2002-2004

Region Median Median Median

YEAR 2002 2003 2004

Africa $149 $175 $154

Asia $95 $128 $169

Near East $357 $235 $201

Europe/Eurasia $1,359 $1,485 $1,136

Latin America/Caribbean $336 $319 $818

Total $217 $245 $326

Table 13 breaks out the MFIs that responded to the 2004 survey by region and by their primary

loan product. The majority of MFIs in all regions offer individual loans to microentrepreneurs as

their primary loan product. Solidarity groups and village banks, the other widely used
Microenterprise Results Reporting: 2004 Annual Report 19

methodologies, were designed specifically for poorer clients because they use groups to manage

the much smaller loans to individuals, thereby reducing the institutional transaction costs and

mitigating default risk.

Differences across the regions are especially evident in the average loan balance of MFIs that

offer individual loans as their primary loan product. The average loan balance of the individual

loans held in the Europe and Eurasia region is roughly ten times greater than the average balance

of loans held in Asia and the Near East, and well more than double that of loans in Latin

America. With a high proportion (63%) of MFIs in the E&E region using individual loans as

their primary loan product, due to various factors including the more developed economies and

higher income per capita, the average loan balance is higher than in other regions.

Table 13. Mean Loan Size by Primary Loan Product and Region, FY 2004

Region

Individual

Loans

Solidarity

Group

Village

 Banking

# MFIs Mean # MFIs Mean # MFIs Mean

Africa (n=49) 24 $385 16 $123 7 $113

Asia (n=57) 37 $280 7 $120 11 $80

Near East (n=23) 12 $260 11 $206 0 -

Europe/Eurasia (n=43) 27 $2,628 13 $312 2 $531

Latin America/

Caribbean (n=69) 48 $1,104 12 $499 8 $237

Total1(n=241) 148 (61%) $929 59 (24%) $203 28 (12%) $160

1

Total of institutions in this row does not equal all institutions because a few institutions offer primary loan

products other than the three shown here.

Poverty Loans

As noted above, small-sized loans or poverty loans have been the mandated proxy for estimating

outreach to very poor clients for a number of years. Reflecting the economic diversity of the

world regions, the Microenterprise for Self Reliance Act of 2000 (MSRA) defined poverty loans

(in 1995 dollars) in each region as follows:

• $300 or less in Asia, the Near East, and Africa

• $400 or less in Latin America and the Caribbean

• $1,000 or less in Eastern Europe and Eurasia

Table 14 shows that the share of clients with loans under the poverty loan threshold established

for each region again varies by region. In Asia, the number of poverty loans is almost 90 percent

of total loans. Nearly one half of all the loans held by MFIs in Europe and Eurasia are below

$1000, while only one quarter of the loans held by MFIs in Latin America are under $400. While

a drop in the percentage of poverty loans in Africa and the Near East occurred in 2004, the

number of poverty loans is still more than half of all loans held by MFIs in those regions. Again,

the number of poverty loans is used as a proxy for the number of clients believed to be very poor.
Microenterprise Results Reporting: 2004 Annual Report 20

Referring to Table 14, the majority of clients of USAID-supported MFIs in all regions, with the

exception of Latin America and Europe and Eurasia, are very poor.

Table 14. Clients with Poverty Loans, FY 2004

Region

Number of

Loans

(‘000s)

Number of

Poverty Loans

(‘000s)

 Percent Poverty Loans

 2003 2004

Africa 788.6 468.6 71% 59%

Asia 514.7 447.2 89% 87%

Near East 631.3 338.0 62% 54%

Europe/Eurasia 218.5 108.0 58% 49%

Latin

America/Caribbean 1,625.1 398.4 29% 25%

Total 3,778.2 1,760.2 49% 47%

Location of Microfinance Clients

Reaching rural populations has long been a priority within the field of microfinance. Providing

financial services to the rural poor has been a great challenge for MFIs who have sought various

ways to overcome the limitations of poor infrastructure and fragmented markets in rural areas. In

its donor role, USAID has supported this effort by working with institutions that target rural

areas by designing programs that specifically address the needs of the most vulnerable

households. Table 15 demonstrates that MFIs in Africa and Asia have been very successful in

reaching rural populations. This success is particularly important because 62 percent of Asians

and 70 percent of Africans reside in rural areas where few households escape extreme poverty.

Table 15. Location of Microfinance Clients

Region

Percent Rural Percent Urban

Africa 67 33

Asia 73 27

Near East 31 69

Europe/Eurasia 30 70

Latin America/Caribbean 21 79

Total 40 60

Portfolio Quality Indicators

The two most widely tracked indicators of portfolio performance are portfolio at risk and loan

loss rate. Each of these reveals important information about institution oversight and

management practices and the quality of services provided. USAID monitors these indicators, as

do the microfinance practitioners themselves, to ensure that problems in portfolio management

are addressed quickly.

Portfolio at risk is defined as the percentage of outstanding portfolio that is past due 30 days or

more. Loan loss is defined as the amount written off during a period as a percentage of the
Microenterprise Results Reporting: 2004 Annual Report 21

average outstanding portfolio for the period. These measures are shown in Table 16 for the

aggregated portfolio of USAID-assisted institutions. Portfolio at risk is within the expected range

for MFIs as is loan loss.

Table 16. Portfolio-at-Risk and Loan Loss Rates, FY 2004

Region

Portfolio-AtRisk

(%)

Loan Loss

(%)

Africa 6.6 1.4

Asia 5.1 1.4

Near East 2.6 0.7

Europe/Eurasia 9.5 0.3

Latin America/Caribbean 4.5 0.4

Total 5.3 0.6

Measures of Sustainability

USAID places a high value on institutional sustainability as a key performance indicator for the

microfinance institutions it supports. Measures of sustainability allow institutions to monitor

their progress toward independence from donor subsidy and demonstrate to the donor that the

institution is managing expenses in a way that will allow it to continue providing services when

donor assistance is phased out. USAID considers an institution’s sustainability to be related to its

cost effectiveness.

Two measures are tracked: operational sustainability and financial sustainability. Operational

sustainability, an intermediate milestone, occurs when an institution generates sufficient revenue

from operations to cover all of its operating expenses, including loan losses and the costs of

capital. Financial sustainability occurs when an institution generates sufficient revenue to cover

its operating costs and, in addition, the costs (actual or imputed) of raising funds from

commercial sources at market rates, adjusted for the effects of inflation and subsidies. It is

USAID’s objective to encourage MFIs to become fully financially sustainable within seven years

of initial funding.

Table 17 shows that more than one-half of USAID-supported microfinance institutions were

financially sustainable and more than two-thirds were either financially or operationally

sustainable by the end of FY 2004. This continues the trend that has been developing over

several years. FY 2003 was the first year in which more than one-half of USAID-supported

institutions were financially sustainable. In FY 2002, 49 percent were fully sustainable; in FY

2001, only 38 percent had reached that level.
Microenterprise Results Reporting: 2004 Annual Report 22

Table 17. Sustainability of USAID-Supported Institutions, FY 2004

Region

Not Yet

Sustainable

%

Operational

Sustainability

%

Financial

Sustainability

%

Africa (n=49) 43 16 41

Asia (n=57) 37 9 54

Near East (n=20) 35 5 60

Europe/Eurasia (n=43) 14 28 58

Latin America/Caribbean (n=69) 19 12 69

Total (n=238) 29 14 57

Savings Services at USAID-Supported Institutions

Many of the strongest microfinance institutions are “savings-led,” rather than “credit-led”

institutions. Credit unions and credit union federations are examples of institutions that have

pioneered savings programs and promoted specialized products to meet the savings needs of

poor clients. Of the 273 institutions reporting, 139 provided data on their savings activities.7

USAID has long recognized the importance of secure savings services that provide the security

and flexibility needed by the poor. Savings deposits provide the cushion that allows households

to recover from crises or unexpected events. Microentrepreneurs and households alike also draw

on savings periodically to build their assets, whether they be business assets or assets such as

housing. Savings can be critical in meeting the costs associated with “life-cycle” events such as

weddings, funerals and the birth of children. Building savings, then, is a key objective for many

USAID-assisted programs. Women clients comprise more than half of all the clients of these

USAID-assisted savings programs.

Table 18. Number of Savers and Savings Amounts, FY 2004

Region

Savings

Members

(‘000s)

Savings

Amounts

(US$ millions)

Average

Savings

Account

(US$)

Percent

Women

Among

Savers

Africa (n=41) 2,044.8 $186.1 $91 45%

Asia (n=48) 1,008.2 $42.7 $42 89%

Near East (n=2) 68.7 $0.7 $10 2%

Europe/Eurasia (n=13) 162.5 $275.1 $1,693 38%

Latin America/Caribbean (n=35) 2,087.7 $1,262.6 $605 63%

Total (n=139) 5,371.9 $1,767.2 $329 59%

7

Other MFIs likely had savings programs but did not report because that service was not the purpose of their

USAID funding assistance.
Microenterprise Results Reporting: 2004 Annual Report 23

Table 19 presents the largest savings networks supported by USAID. Each of these networks

comprises many institutions and branches, and outreach to clients across large areas. The credit

unions are country-wide credit union federations; COPEME is a consortium of NGOs in Peru.

These ten networks serve 55 percent of all the clients of USAID-assisted savings institutions and

hold 64 percent of the savings portfolio.

Table 19. Leading Savings Institutions or Networks Supported by USAID, FY 2004

Institution Name

Type of

Institutions

# of

Savings

Members

Savings

Portfolio

Amount

(US$ mil)

Average

Savings

Account

(US$)

Average

Savings as

Percent of

per capita

GDP

WOCCU Mexico

Credit Union

Federation 803,820 $705.5 $877 9.7%

FECECAM Benin

Credit Union

Federation 536,920 $56.5 $105 9.5%

WOCCU Rwanda

Credit Union

Federation 398,799 $41.0 $102 7.9%

WOCCU Ecuador

Credit Union

Federation 233,295 $88.2 $378 11.4%

COPEME Peru NGO 224,058 $139.3 $621 11.9%

SEWA India Bank 210,763 $12.2 $57 1.9%

Kafo Jiginew Mali Credit Union 186,142 $19.3 $103 11.4%

Rural Green Bank

of Caraga/

Philippines

Rural Bank

154,471 $3.7 $23 .05%

WOCCU Bolivia

Credit Union

Federation 114,509 $55.7 $486 20.2%

Nyesigiso Credit Union 113,643 $11.2 $98 10.8%

Total 2,976,420 $1,132.6 $380
Microenterprise Results Reporting: 2004 Annual Report 24

Enterprise Development

In FY 2004, for the first time since USAID has been tracking its microenterprise assistance, the

amount of funds for enterprise development exceeded the amount for microfinance. One

explanation of this shift in funding emphasis is that missions and partners alike increasingly

recognize that both entrepreneurs often need enterprise development support as well as access to

finance to capitalize on economic opportunities and increase their earnings, productivity, and

employment. Clearly, lack of access to credit is not the only constraint to microenterprise

formation and growth. Many microentrepreneurs also lack access to higher-value markets, basic

business skills, knowledge, or access to business networks that could help them stabilize and

grow their businesses. A particular trend in the past few years is work supported by USAID

missions and their partners to link microenterprises into growing markets and to upgrade their

productivity within high-potential”value chains” such as horticulture or home furnishings.

(Value chains are comprised of the full range of activities and actors that contribute to a product

or service from conception through production to purchase by consumers.)

Enterprise development refers to the range of interventions that help microenterprises acquire

necessary skills and knowledge, gain access to financing and other inputs, and develop the

commercial relationships with other firms (both micro-scale and larger firms) that can enable

them to improve their earnings, productivity, and business survival rate. ED institutions come in

two types: providers and facilitators. Providers are local institutions that offer services directly to

entrepreneurs. Facilitators are international or local institutions that do not provide services

directly but improve microentrepreneurs’ access to the resources (skills, knowledge, services,

inputs, technology, etc.) they need to compete in globalizing markets by strengthening other

service providers and facilitating inter-firm cooperation and coordination. Some ED institutions

are both providers and facilitators.

In FY 2004, 203 institutions had active agreements with USAID for enterprise development

purposes. Of that number, 156 institutions responded to USAID’s annual survey for a response

rate of 77 percent.

Of the 156 respondents, 133 were able to provide client data. The remaining 23 institutions could

not report client data because they either had only recently started their programs or had no client

data to report. For example, 8 PVOs received assistance for “facilitation” including building

capacity of service providers and market research, and hence had no client data to report.

USAID provided new obligations for ED to 148 institutions in FY 2004. Of these, 103 or 70

percent responded to the survey accounting for $80.6 million, or 80 percent of the ED

obligations.
Microenterprise Results Reporting: 2004 Annual Report 25

Table 20. Clients of USAID-Supported Enterprise Development Programs, FY 2004

(Providers and Facilitators)

Region

Number of

Micro

Clients

Percent

Women

Percent

Rural

Percent

Agriculture

and

Agribusiness

Percent

Very

Poor

Clients1

Africa (n=50) 471,784 34 94 95 19

Asia (n=35) 135,460 35 96 93 40

Near East (n=9) 15,831 47 87 100 46

Europe/Eurasia (n=25) 23,569 41 78 56 14

Latin America/Caribbean (n=14) 55,002 31 91 45 24

Total (n=133) 701,646 35 94 90 24

1This data is based on how many microenterprise clients are known by the ED institution to have poverty loans.

Of the 133 institutions providing client data, 78 were facilitators; 79 were providers; and 24

engaged in both kinds of activity. Table 20 shows the number of clients reached either directly

or indirectly through USAID-assisted ED institutions in 2004. More than 400,000 of these clients

benefited from the services of providers, such as EnterpriseWorks Worldwide (EWW) in

Tanzania.

As in FY 2003, the percentage of women clients is about one third of total clients. The vast

majority of the clients targeted by USAID’s ED support are located in rural areas where the poor

are isolated by lack of infrastructure. Particularly in Africa and Asia where the majority of the

rural poor depend on agriculture for survival, USAID supports ED programs that focus on

smallholder farmers to obtain better inputs and find better market outlets to increase profits.

In Bangladesh and India, USAID assistance is helping improve technologies related to fisheries,

dairy, and other livestock production. International Development Enterprises (IDE) promotes

micro-irrigation and improved horticulture technologies in India and several other Asian

countries. In Afghanistan, USAID is supporting the Dutch Committee for Afghanistan, which is

privatizing clinical veterinary services.

Throughout the E&E and LAC regions, ED programs span a wide range of local and regional

market conditions. As a result, the kinds of activities that receive support vary. In Albania,

USAID supports programs to improve both quality and quantity of processed meat and dairy

EnterpriseWorks Worldwide became involved in the small-scale oilseed sub-sector in Tanzania in

1985 after the Tanzanian government¶s monopoly on oilseed purchases ended. EWW currently works

with farmers and farmer groups to help them obtain the ram press, which provides greater profits

from oilseed production than were possible before. EWW trains and supervises the manufacturers of

the press, and takes part in a marketing campaign to sell the product. EWW is also helping to

disseminate better quality seed throughout the country. One of the strongest endorsements has come

from other organizations that have replicated the program, adopting the technology pioneered by

EnterpriseWorks. Today, oilseed farmers are building lucrative, employment-generating oilseed

processing enterprises across Africa.
Microenterprise Results Reporting: 2004 Annual Report 26

products. In Honduras, Fintrac receives funding for its efforts to expand markets for horticulture

products, resulting in significant sales and employment gains. In Ukraine, NTCA uses funding to

improve microbusiness’ skills and market access by operating seven business internet centers in

smaller-sized towns throughout the country.

Policy Reform/Enabling Environment

The enabling environment for microenterprise and microfinance includes the laws, policies,

regulations and supervisory and administrative practices that affect access to services by

microenterpreneurs and poor households. USAID has been a leader in working to improve the

enabling environment for microfinance institutions and microenterprises. This work

complements USAID’s funding support to microfinance institutions and enterprise development

institutions by strengthening the related regulatory systems and helping to level the playing field

for micro businesses.

In FY 2004, USAID had active agreements with 47 institutions for the purpose of promoting

policy or regulatory reforms affecting the microenterprise sector. Thirty of these institutions

reported on their activities, which represents a response rate of 64 percent. Of those reporting, 24

institutions received FY 2004 funding amounting to $14.4 million or 62 percent of the total

policy obligations. (Those not reporting in FY 2004 include newly funded activities in Belarus

and Kosovo, as well as several small activities throughout the Central Asian Republics.) An

additional 6 institutions with pre-existing obligations reported on their policy-related activities.

In Ukraine, USAID has supported a range of efforts to combat policies that limit the growth

and profits of micro and small firms. The average cost of business registration has been cut

in half, and the time to obtain a license has been reduced by half. More important, greater

transparency has helped to limit corruption related to business registration. More than 378

regulations that constrained business development have been changed and survival rates for

new businesses are up by 20%. The clients of BIZPRO, a regional USAID-funded business

service provider, have seen increased profits and a better survival rate as a result of

improvements to the enabling environment.
Microenterprise Results Reporting: 2004 Annual Report 27

Microenterprise Results Reporting8

Methodology Annex

This annex addresses two aspects of the Microenterprise Results Reporting system, USAID’s

official system for collecting and reporting its annual funding to microenterprise development:

the kind of data and the process by which MRR collects data; and the method used to calculate

the portion of USAID microenterprise development funds that benefit the very poor (FVP).

Collecting the Data

MRR collects two types of data. Funding data are tracked as obligations (i.e., financial assistance

including grants and contracts) made by missions and other USAID operating units for

microenterprise development activities; institutional data are requested from institutions that

receive microenterprise funding – USAID’s development partners.

Throughout the year, USAID field missions and central offices provide estimates and projections

of their planned microenterprise funding to MRR through an online database.

USAID/Washington uses these estimates and projections for planning and budgeting purposes.

Then, shortly after the end of USAID’s fiscal year on September 30, USAID missions and other

operating units are asked to provide data on actual, completed obligations made to institutions.

To collect institutional data on microenterprise activities, MRR undertakes an annual survey of

USAID’s development partners. In some cases, the implementing institutions for a planned

microenterprise development activity may not yet have been selected. For example, the USAID

office may be negotiating terms, or soliciting bids from other institutions to achieve the best fit

for its objectives. Hence, the data entered into the MRR system at that time is preliminary and

remains so until the implementing institutions are specified. MRR makes every effort to provide

the most complete report of the uses of USAID funding possible; however, delays in contracting

may prevent a full and exhaustive report of the destination of funds obligated in the most recent

fiscal year.

Because the survey of USAID’s partners occurs soon after funding agreements are signed for

activities that will be implemented over several years, the data reported for a given year does not

reflect the results of the funding obligated in that year. Rather, the data provides a picture of

USAID’s active investments in microenterprise development overall.9 The results of this survey

are contained in this report and are also available online at www.mrreporting.org .

8 Microenterprise Results Reporting (MRR) is an activity managed by the office of Microenterprise Development

in the Poverty Reduction Office of the Bureau for Economic Growth, Agriculture and Trade at USAID. This report

was prepared by Catherine Neill and Sharon Williams of Weidemann Associates, Inc. under the supervision of

Stacey Young, Senior Knowledge Management Advisor, and Katharine McKee, Director of the office of

Microenterprise Development (EGAT/PR/MD).

9

 While this information is useful for a variety of programmatic purposes, it is not intended, and should not be used,

to assess the impact of USAID funding. A valid impact assessment would require time-series data on a set of
Microenterprise Results Reporting: 2004 Annual Report 28

Funding Data: Obligations

Funding data are tracked in the form of obligations, which are legally binding USAID

agreements to provide financial support to microenterprise institutions and activities. Funding to

microenterprise development is reported to MRR when it is clearly determined that the ultimate

beneficiaries are microenterprises – defined by the Agency as enterprises with 10 or fewer

employees that are owned and operated by poor or low-income people. USAID field missions

and offices are directed to report to MRR only on the portions of obligations that directly benefit

microenterprises; funding is prorated where the activity may serve larger enterprises in addition

to microenterprises, or where funding may support other activities in addition to microenterprise.

Microenterprise development is a versatile strategy that is used by field missions to address a

range of economic and social issues. For example, microenterprise programs have been funded

by USAID under strategic objectives for economic growth, democracy and governance,

community health, and women’s literacy and empowerment. The activities defined by the larger

objective may include a wide range of development programs addressing this objective. The

purpose of MRR, however, is to report solely on the funding for the microenterprise

development activity.

Funding data provided by USAID field missions is reviewed by USAID/Washington personnel,

including regional and central budget staff. Funding data are subject to change and are adjusted

as often as necessary in the MRR database. Funding amounts to institutions may change, for

example, when an institution has difficulties accomplishing its objectives. Agreements may be

canceled or altered if performance targets are not met. Funds set aside by a field mission for

microenterprise development activities have also been de-obligated when a suitable awardee was

not found.

The tally for actual obligations made during the fiscal year is finalized several months after the

end of the year. At that time, each mission or operating unit reports to MRR each institution or

activity to which funds were obligated. Sub-obligations, or grants made by the main grantee or

contractor to retail microfinance institutions or providers/facilitators of business development

services, are also added to the database.

Table 21 contains details on the types of institutions receiving obligations in 2004. Table 22

presents details on the sub-obligations that had been made to other institutions through umbrella

contractors at the time of reporting.

institutions beginning on receipt of USAID funds. It would also require a control group to assess the counterfactual,

i.e., what the outcomes would have been in the absence of USAID funding.

The MRR data set does not meet these requirements. Many institutions included in the current survey

received USAID funding for the first time in 2003. Many other institutions responding to previous years’ surveys

terminated their agreements with USAID at the end of FY 2002 or earlier and thus did not respond to the FY 2003

survey. Moreover, many institutions responding to the survey have received assistance from other sources, such that

isolating the unique impact of USAID assistance is problematic. Finally, the absence of a control group makes it

impossible to determine whether observed outcomes can be attributed to USAID support or to other factors.
Microenterprise Results Reporting: 2004 Annual Report 29

Table 21. USAID Funding for Microenterprise Obligation Recipients, FY 2004

Microfinance Microfinance

Enabling

Environment

Enterprise

Development

Microenterprise

Enabling

Environment

Total Obligations1

Amount

US$

(000's)

Number Amount

US$

(000's)

Number Amount

US$

(000's)

Number Amount

US$

(000's)

Number Amount

US$

(000's)

Number

Banks 4,564 14 0 - 277 1 0 - 4,841 15

Business

Associations

- - 0 - 1,300 3 0 - 1,300 3

Consulting 21,267 22 6,036 18 35,116 30 12,910 16 75,329 62

Cooperatives

& Credit Unions

2,874 4 212 1 5,241 10 0 - 8,327 14

ForProfits/Finance

Companies

1,327 3 150 1 628 5 0 - 2,105 7

Government

Agencies

3,189 30 - 0 - 0 - 3,189 3

NGOs 20,597 20 81 2 26,416 39 877 3 47,971 62

Non-Bank

Financial

Institution

6,779 8 207 1 0 - 0 - 6,986 9

PVOs 9,109

23

0 - 26,642 46 451 3 36,202 68

Research

Institutions

- - 400 1 3,231 7 150 1 3,781 9

USAID2

500 2 1,465 1 1,777 2 200 1 3,942 4

Other 2,118 2 0 - 710 5 242 1 3,070 7

Total3

 72,324 101 8,551 25 101,338 148 14,830 25 197,043 263

1

Table shows obligations made to umbrellas and apex organizations, but not the sub-obligations those

umbrellas/apexes made (i.e., funds that they subsequently pass through to other institutions).

2

 Obligations to USAID include those funds that were used for microenterprise project management and those for

which specific implementing institutions had not yet been specified.

3

Total for all obligations does not correspond with column totals because 36 institutions had funding for more than

one purpose.
Microenterprise Results Reporting: 2004 Annual Report 30

Table 22. Sub-obligations Made by Institution Type & Activity, FY 2004

Microfinance Microfinance

Enabling

Environment

Enterprise

Development1

Total

Sub-obligations

Amount

US$

(000's)

Number Amount

US$

(000's)

Number Amount

US$

(000's)

Number Amount

US$

(000's)

Number

Banks 761 1 0 - 0 - 761 1

Cooperatives

& Credit Unions

1,055 10 212 1 444 4 1,211 15

ForProfits/Finance

Companies

474 1 0 - 81 2 555 3

Government

Agencies

0

-

0 - 63 2 63 2

NGOs 4,574 24 0 - 4,920 26 9,289 50

Non-Bank

Financial

Institution

475 8 0 - 442 3 994 10

PVOs 2,124 12 0 - 1,892 15 4,144 27

Research

Institutions

67 2 0 - 370 5 437 7

Rural Banks 70 1 0 - 0 - 70 1

Other 8 1 0 - 0 - 8 1

Total2

 9,608 60 212 1 8,212 57 17,532 117

1

 No sub-obligations were made in FY 2004 for the purpose of improving the MED enabling environment. A number

of activities of this nature were funded as direct obligations.

2

Total for all sub- obligations does not correspond with column totals because 1 institution had funding for more

than one purpose.

Funding Data: Institutions

Using the obligations data obtained after the end of a fiscal year, MRR initiates its annual survey

of microenterprise institutions with active USAID funding agreements. Institutions surveyed

include those with prior year agreements as well as those that have received funding in the most

recent fiscal year. (As noted above, the data on those funded in the most recent fiscal year may

not reflect all the eventual end users of USAID funds due to delays in identifying implementing

institutions.) Institutions are asked to complete one or more of three questionnaires

(microfinance, business development services, and policy or enabling environment) that pertain
Microenterprise Results Reporting: 2004 Annual Report 31

to the activities for which they received USAID funding. The results of this survey are presented

in the preceding report. Prior year reports are available online at www.mrreporting.org.

MRR obtains institutional data either directly from the institution, from an apex organization or

umbrella awardee, or from the USAID mission. Because umbrella awardees channel funds and

technical assistance to other institutions, they are able to gather descriptive data on these “second

tier”10 institutions more readily than MRR. A number of missions also collect descriptive data in

the course of managing their agreements and provide these data to MRR.

For those institutions that MRR surveys directly, each is asked to respond to an online survey or

to send their survey response via fax or email if they do not have internet access. The USAID

office overseeing the grant or contract assists in contacting and following up with their respective

partners. The survey questionnaire is available in three languages: English, French and Spanish.

Institutions can view their data from prior years online, which helps to ensure consistency of

reporting from year to year. MRR staff closely review each record as it is provided to check for

anomalies, data entry errors, and omissions. In addition, umbrella contractors, PVO

headquarters, and mission offices review data for institutions under their purview. Microfinance

experts within AID also scan the data for anomalies.

Microfinance. All institutions that have active agreements with USAID for the purpose of

carrying out or expanding financial services for microenterprises and their households are

requested to submit data on their programs. Umbrella or apex organizations are asked to provide

a list of all the retail or second tier institutions to which they have channeled assistance. In some

cases, the umbrella may provide the descriptive data on its second tier organizations, especially

in instances where the retail organizations are very small or have limited technical capacity.

Some umbrella institutions regularly submit aggregate data on behalf of retail institutions. MRR

seeks to report on each individual institution to avoid the possibility of double-counting, but it is

not always possible to obtain data at that level.

Microfinance institutions are asked to report on standard performance indicators for MFIs,

including outstanding portfolio, number of loans, percentage of women borrowers, amount of

savings deposits, number of savings clients, percentage of rural clients, portfolio at risk and

degree of operational and financial self-sufficiency. Numbers of clients and percentage of

portfolio in very small (“poverty loan”) amounts have also been requested as proxies for the

number and amount of loans directed to very poor clients.

Enterprise development services. ED institutions are also surveyed on their activities. MRR has

two ED questionnaires: one for facilitators (institutions that expand and improve

microentrepreneurs’ access to the resources they need to compete in globalizing markets) and

another for providers (institutions that offer services directly to individual microentrepreneurs).

Institutions that offer both kinds of services complete both questionnaires. The survey

10 “Second tier” or retail organizations receive support through “first tier” or wholesale institutions. Second tier

organizations, as recipients of sub-contracts or sub-grants, are one step removed from a direct relationship with

USAID.
Microenterprise Results Reporting: 2004 Annual Report 32

questionnaire includes questions on the types of services provided, the numbers of clients,

percentage of women clients, percentage of rural clients, and the percentage of clients with

poverty loans.

Enabling environment or policy advocacy. Policy advocacy institutions also receive a

questionnaire about their activities. Institutions that have worked on financial policy or on a

wider range of policies affecting microenterprises are asked to describe the nature of their

activities on behalf of microentrepreneurs.

Table 23 shows the respondents to USAID’s annual microenterprise survey by institution type.

These institutions include both those with prior year agreements as well as those with initial

funding in fiscal year 2004.
Microenterprise Results Reporting: 2004 Annual Report 33

Table 23. USAID’s Microenterprise Survey Respondents, FY 2004

Types Microfinance

Survey

Enterprise

Development

Survey

Policy Survey Total

Banks 57 - - 57

Business Associations 1 1 - 2

Consulting Firms 11 24 21 56

Cooperatives/

Credit Unions

28 7 2 37

For-Profits/Finance

Companies

5 2 1 8

Government Agencies 4 4 - 8

NGOs 89 59 3 151

Non-Bank Financial

Institutions

31 2 - 33

PVOs 16 42 1 59

Research Institutions 1 11 2 14

Rural Banks1

25 - - 25

USAID - 1 - 1

Other 5 3 - 8

Total 2732

156 30 459

1

 Rural banks are structured more like very local credit and savings institutions than like commercial banks. The

majority of these USAID-assisted rural banks are located in the Philippines.

2

 In addition, 35 apex institutions responded to the survey but had no program data to report for their own

operations, which consist primarily of providing financing and technical assistance to MFIs. The MFIs they assist

receive questionnaires to complete and are included in the survey results.

Table 24 presents the response rates for institutions with FY 2004 obligations.
Microenterprise Results Reporting: 2004 Annual Report 34

Table 24. Response Rates for Institutions Receiving Obligations in FY 2004

Response rate

Number of

Obligations

Percent of

Total Number

of Obligations

Amount of

Obligations

(US$

millions)

Percent of

Total

Amount of

Obligations

Total microfinance activities

with 2004 obligations 101 100% $71.8 100%

MFIs with 2004 funding

responding to MFI survey 72 71% $44.3 62%

Total ED activities with

2004 obligations 148 100% $101.4 100%

ED/BDS institutions with

2004 funding responding to

survey

103 70% $80.6 79%

Total policy activities with

2004 obligations 45 100% $23.3 100%

Institutions with 2004

funding responding to survey 24 53% $14.4 62%

Measuring the Benefit to the Very Poor

In 2000, the U.S. Congress passed the Microenterprise for Self-Reliance Act, which mandated

that half of all USAID microenterprise funds benefit the very poor, defined as those living in the

bottom 50% below their country’s poverty line. This legislation was amended in 2003 to add a

second definition of the very poor, i.e., those living on less than $1 a day at purchasing power

parity (PPP).11

The 2003 law also requires USAID to develop and certify at least two tools for assessing the

poverty level of its microenterprise beneficiaries.12 Until these tools are implemented (beginning

in FY 2007), the proxy measure that has been used up until this point will continue to be used to

determine the amount of funds for the very poor. This proxy measure is the percent of portfolio

held in poverty loan sizes by MFIs, or the number of clients with poverty loans from any source

11 “$1 a day at PPP” refers to the local equivalent of one U.S. dollar when converted using the purchasing power

parity exchange rate, which equalizes the overall purchasing power of different currencies. PPP exchange rates can

differ several-fold from official exchange rates, especially in poor countries. For example, in December 2004 one

U.S. dollar could buy 76.3 Kenyan shillings at official exchange rates; for the same month, the PPP equivalent of

one dollar was 32.0 shillings, nearly 60 percent less. The World Bank maintains the official PPP exchange rates.

Readers can learn more by consulting PovCalNet, which contains a .poverty calculator. that incorporates the PPP

rates and allows users to generate poverty estimates based on a poverty line of their own choosing: $1/day, $2/day,

etc. Go to http://iresearch.worldbank.org/PovcalNet/jsp/index.jsp . Readers can also learn more about the actual

methodology of the PPP estimates through the World Bank’s International Comparison Program (ICP). Go to

http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/ICPEXT/0,,contentMDK:20118237~menuP

K:62002075~pagePK:60002244~piPK:62002388~theSitePK:270065,00.html .

12 A consortium led by the University of Maryland’s IRIS Center has been leading the effort to research and

implement these new measures.
Microenterprise Results Reporting: 2004 Annual Report 35

for ED institutions. Poverty loan amounts for each region, defined by the Microenterprise for

Self-Reliance Act of 2000, are:

o Loans equivalent to $1000 or less in the Europe and Eurasia region

o Loans equivalent to $400 or less in the LAC region

o Loans equivalent to $300 or less in Africa and in the Asia and Near East region.13

As USAID is mandated by Congress to report on poverty lending appropriations by fiscal year,

only those institutions receiving funds within the 2004 fiscal year are included in the calculation

to determine the percentage of Funds for the Very Poor (FVP). For a thorough explanation of the

challenges associated with the use of the current proxies and the limitations of the data obtained

from USAID-assisted institutions, please refer to the Methodology Annex for the FY 2002

Annual Report.

Methodology for calculating FVP, the share of funds benefiting the very poor

To arrive at the overall FVP %,14 MRR takes the following steps:

1. It calculates the amount of FVP from financial services (FS) reporters by multiplying the

amount of the obligation to an institution that reported poverty data by the ratio of its loan

portfolio held in poverty loans over the total loan portfolio. The resulting amounts are

summed to provide the amount of FVP obligations for all FS reporters. For FY 2004, this

amount was $16.5 million.

2. It calculates the amount of FVP from ED reporters by multiplying the amount of the

obligation to the institution that reported poverty data by the percent of clients estimated to

hold poverty loans (i.e., the ratio of number of clients with poverty loans over the total

number of clients). The resulting amounts are summed to provide the amount of FVP

obligations for all ED reporters. For FY 2004, this amount was $7.9 million.

3. It totals all FS funds for the very poor (from 1 above) and ED funds for the very poor (from 2

above). This provides the amount of obligations attributable to FVP from which the final

overall FVP % is derived. For FY 2004, this amount was $24.4 million.

4. It totals all obligations to institutions reporting poverty data (from 1 and 2 above). This

provides the total obligations used in the calculation of the FVP percentage. For FY 2004,

this amount was $87.0 million.

5. It divides the FVP (from 3 above) by total obligations to institutions reporting poverty data

(from 4 above). This provides the FVP percentage reported in Table 8. For FY 2004, this

resulted in the following: $24.4 million divided by $87.0 million = 28%.

13 See Figure 1 above on the impact of calculating these amounts in terms of 2004 dollars rather than 1995 dollars.

14 Readers should bear in mind that the FVP calculation for FY 2004 is performed only on funding amounts and

data associated with institutions that received obligations in FY 2004. While MRR collects program data from all

institutions with active agreements with USAID in a given fiscal year, it uses data only from those institutions that

received obligations in the current fiscal year for the purposes of calculating the Funds that benefit the Very Poor

(FVP). This is because USAID is mandated by Congress to report on poverty lending appropriations by fiscal year.
Microenterprise Results Reporting: 2004 Annual Report 36

6. Funding amounts for policy activities and USAID support and research ($24.7 million for FY

2004) are deducted from total microenterprise obligations ($197.1 million for FY 2004).

7. The FVP percentage (derived in 5 above) is assumed to apply to all programs funded in the

fiscal year, excluding those amounts mentioned in 6 above. In other words, the FVP% (28%

in FY 2004) is extrapolated from obligations to institutions that reported poverty data to

obligations to institutions that did not or could not report poverty data. For obligations to

institutions/activities that do not involve clients and client data, no claim is made regarding

their benefit to the very poor; these funds ($24.7 million for FY 2004) are left out of the FVP.

Hence, the complete formula used by MRR to calculate the benefit of USAID microenterprise

funds to the very poor in 2004 is:

overall FVP% =

(FVP for FS) + (FVP for ED)

(obligations to poverty data reporters)

MRR also breaks out FVP by region. Combining the FVP for both MFIs and ED institutions for

a region provides a total amount of FVP obligations for the region. The sum of all FVP

obligations for a region is divided by the total obligations to the reporting institutions to provide

a “Percentage of Funds Benefiting the Very Poor” for the region. All the FVP obligations –

across all regions and USAID operating units – are summed and divided by total obligations to

reporting institutions to provide a “Percentage of Total Funding for Poverty Lending”

worldwide.

Table 8, which appears earlier in this report and is reproduced here for the reader’s convenience,

presents data on the percentage of USAID microenterprise funds that benefited the very poor in

FY 2004.

Table 8. Percentage of Funds Benefiting the Very Poor, FY 2004

Bureau

Total

Microenterprise

Funding

(US$ millions)

Percent of

Microfinance

Funding

For Poverty

Lending

Percent of

Enterprise

Development

Funding for

Poverty Loan

Clients

Percent of

Total Funding

Benefiting the

Very Poor

Africa Bureau $36.4 57% 17% 24%

Asia/Near East Bureau $43.0 59% 36% 49%

Europe/Eurasia Bureau $36.5 28% 5% 18%

Latin America/Caribbean Bureau $42.5 51% 6% 17%

Central Bureaus $14.0 60% 18% 48%

Total all Bureaus1$172.4 49% 15% 28%

1

The total of $172.4 million excludes funds for enabling environment work, program management, and research

activities for which there is no client data that can be used to determine whether the beneficiaries were “very poor.”
Microenterprise Results Reporting: 2004 Annual Report 37

Thus, in assessing what portion of total USAID microenterprise funds ($197.1 million) benefited

the very poor, MRR can report with certainty that the funds that benefited the very poor equaled

28% of the $87.0 million that went to reporters of poverty loan data. MRR believes that the same

percentage – 28% -- can reasonably be extrapolated to the activities of FS ($37.2 million) and

ED ($48.2 million) institutions that either could not or did not report as well. For the remaining

$24.7 million of USAID MED funds, which went to activities that cannot yield poverty loan data

(policy work, and USAID staffing, research, and support), it is impossible to determine the

extent of benefit to the very poor with the measurement method available.

As MRR noted in the FY 2003 report, in Europe and Eurasia, USAID is working with a wide

range of institutional types, fewer of which than in other regions work exclusively or primarily

with those who meet the legislated definition of “very poor.” As funding in this region increases,

it has a direct bearing on lowering the overall percentage of microenterprise funds that benefit

people who do meet that definition, and this is one factor contributing to the FVP percentage.

A second factor, also addressed in the FY 2003 report, is that the great majority of enterprise

development institutions simply do not track whether their clients have poverty loans,

particularly if the institutions do not offer loans themselves. Because of the discontinuity

between the proxy (loan size) and the activities of these institutions, many enterprise

development and ED institutions either cannot or do not respond to this portion of the survey.

Poverty loan percentages, if reported at all by these institutions, are at best very rough estimates.

As a result of these factors, it is likely that the percentage of poverty loans reported by enterprise

development institutions significantly understates the actual percentage of funds benefiting the

very poor, particularly since the great majority of clients (94%) served reside in rural areas,

where poverty incidence is consistently higher (see Table 20). It seems highly unlikely, for

example, that in Africa 94% of the ED clients were rural and yet only 17% were very poor.

Rather, this reported data likely reflects the limitations of the reporting methodology as

established by law. And as the portion of microenterprise funding that goes to ED activities

increases, the effect of this understatement on the overall FVP percent intensifies.

Another factor that may contribute to a lower percentage of MFI portfolio in poverty loans is that

institutions reported loan portfolio valued at current dollars rather than 1995 dollars, thus

undervaluing the amount of portfolio that is held in poverty loans.

Posted: July 2006
BUREAU 1996 1997 1998 1999 2000 2001 2002 2003 

AFRICA

$800

$900 

$1,835 $1,040 $1,397 $1,109 $985 $1,473 $951 

$0

$395 

$200 $200 $0 $0 $2,226 $1,925 $1,075 $345 

$34 $1,049 $1,683 $600 $756 $731 $460 

$276

$2,584 $4,515 $4,448 $6,322 $6,000 $5,692 $2,947 $3,891 

$500 $401 $73 $1,300 $600 $600 $953 $981 

$2,575 $2,033$2,000 $2,904 $1,717 $2,629 $943 $2,357 $1,581 $3,276 

$0 

$229 $260 $0 $225 $0 $0 $0 $200 

$635 $541 $1,700 

$148 $417 $809 $3,131 $2,265 $2,710 $796 $2,000 

$425

$3,373 $2,370 $2,802 $1,932 $1,086 $3,264 $3,264 

$712 $241 $95 $200 $715

$0 $200 $3,090 $2,000 $525 

$0 $400

$0

$932 $364 $2,500 $2,778 $12,916 $3,852 $3,874 $4,385 

$3,781 $3,308 $4,005 $50 $1,000 $1,000 $1,500 $382 

MISSION

Cape VerdeGhanaNigerRwanda

Summary of USAID Microenterprise Funding by Mission, 1996-2004

(US$ '000s)

BeninAngolaAFRICA BureauCAFRBurkina FasoDR CongoGambiaEthiopiaEritreaGuinea-BissauGuineaLiberiaKenyaMalawiMadagascarMauritaniaMaliNamibiaMozambiqueNigeriaRSCASierra LeoneSenegalSouth Africa

ANNE
$1,000 $2,000 

$200 $950 $2,000 $2,650 $2,544 $5,006 

$3,044 $5,481 $5,162 $4,752 $2,540 $1,300 $582 $1,200 

$600 $1,000 $616 $1,500 $1,869 $1,021 $886 $1,053 $350 $35 $200 $2,940 $2,010 $1,000 $875 

$22,853 $25,764 $24,421 $26,917 $39,140 $31,669 $26,842 $34,414 

$7,090 

$5,670 $8,639 $7,663 $3,388 $2,000 $4,105 $1,400 $1,337 

$0 $1,281 $750 $1,000 $0

$10,000 $15,000 $21,667 $15,000 $5,777 $15,000 $36,192 $17,016 

$945 $428 $250 $1,300 $1,300 $1,300 

$747 $866 $1,000 $4,186 $1,700 $1,700 $1,500 

$500 $2,792 $3,539 $5,739 $7,655 $6,000 $3,150 $2,250 

$1,000 $1,000 $2,100 $866 $2,500 $500

$105 $920 $700 

$3,600 $1,450 $990 $2,000 $1,200 $900 $900 

$50 $1,170 $1,855 $500 $1,500 $0 

$3,700 

$8,411 $3,000 $2,746 $900 $1,000 $2,540 $3,745 $2,010 

$769 $200

$1,888 $2,499 $3,311 $501 $3,133 $2,515 $650 $1,107 

$31,833 $36,925 $43,637 $32,659 $28,067 $37,665 $49,957 $38,511 

$225 $1,000 $1,000 $1,500 $950 $550 $0 $0 $553 $2,150 $991 $4,200 $6,961 $3,100 $5,144 $4,413 

$669

$771 $132 $524 $1,450 $1,266 $1,118 $2,300 $2,500 

EUROPE/EURASIA

Bosnia

ASIA/NEAR EAST

AFRICA Subtotal

ANE Subtotal

SudanWARPUgandaTanzaniaAfghanistanZimbabweZambiaEast TimorCambodiaBangladeshIndiaEgyptIraqIndonesiaLebanonJordanNepalMoroccoMongoliaRDM/APhilippinesPakistanWest Bank /GazaSri LankaTibetAzerbaijanArmeniaAlbaniaBulgariaBelarus
$500

$6,940 $2,000

$0 $500 $500 $0 $864 $4,645 $0

$200 $1,000 $200 $292 

$0

$0

$923 $2,027 $500 $3,590 $1,172 $2,350 

$0 $310

$244 $1,377 $1,975 $3,045 $2,715 $3,300 $4,598 

$1,000 $1,600 $692 

$487 $2,878 $1,177 $1,826 $999 $2,523 $2,802 $3,736 

$0$0

$950 $900 $500 $2,000 $1,300 $1,000 $0 $623 

$60 $180 $200 $1,200 $4,056 

$1,984 $1,400 $200 $60 

$1,693 $19,088 $0$1,405 $3,200 $2,050 $4,547 $1,758 $1,293 $459 $1,397 $2,475 $2,139 $7,340 $7,357 $5,218 $4,470 $7,123 $4,500 

$2,000 $2,135 $4,465 

$0$0

$101 $1,479 $2,235 $2,214 $1,651 $356 $638 $520 $25 

$2,403 $1,238 $4,948 $2,900 $7,539 $13,003 

$40 $583 $442 $3,025 $2,486 

$10,473 $45,398 $18,941 $26,553 $35,535 $27,118 $40,016 $55,469 

GLOBAL

$3,150 $10,750

$0 $61 $573 $375 $784 $3,021 $3,241 $3,052 

$2,800

$19,494 $28,534 $24,994 $12,288 $22,844 $17,056 $22,288 $22,654 

$8,705 $8,289 $8,316 $7,650 $8,195 $10,926 $9,162 $8,877 

$30,999 $36,884 $37,033 $31,063 $31,823 $31,003 $34,692 $34,583 

E & E Subtotal

GLOBAL Subtotal

CENTRAL BUREAUS 

CaucasusEstoniaHungaryCAR Central Asian Czech RepublicEE BureauCroatiaFRYGeorgiaKosovoKazakhstanLatviaKyrgyzstanMoldovaLithuaniaMacedoniaPolandMontenegroSerbiaRussiaRomaniaSlovakiaSloveniaUkraineTurkmenistanTajikistanBDUzbekistanEMMDDCPVC
$1,775 $1,800 $3,230 $1,200 $1,700 $2,025 $2,600 $700 

$1,300 $780 $500 $0$1,094 $796 $945 $758 $2,730 $4,260 $1,870 $2,478 $3,214 $3,800 $2,990 $2,918 $4,366 $7,180 $1,904 

$708 $1,974 $1,403 $9,576 $2,155 $2,136 $1,751 $1,292 

$53 $30 $164 $820 $800 $400 

$3,148 $2,868 $3,698 $7,246 $6,789 $1,964 $3,000 $3,443 

$587 $914 $4,536 $9,462 $2,519 $1,132 $1,706 $442 $389 $640 $1,074 $1,926 $1,500 $500 

$1,444 $1,453 

$200 $147 $550 $1,000 $1,000 $900 

$448 $1,222 $1,440 $2,817 $1,021 $1,741 $1,400 $1,400 

$3,220 $4,447 $6,564 $5,863 $9,357 $8,011 $13,086 $4,853 

$15,200 $20,101 $21,080 $36,303 $36,643 $29,238 $37,709 $18,968 

$111,358 $165,072 $145,112 $153,495 $171,208 $156,693 $189,216 $181,945 

LATIN AMERICA/CARIBBEAN

BoliviaColombiaBrazilEl SalvadorEcuadorDominican RepublicGuyanaGuatemalaJamaicaHondurasHaitiMexicoLAC Bureau

GRAND TOTAL

PeruPanamaNicaragua

LAC Subtotal
BUREAU MISSION FINANCE FINANCIAL 

POLICY

BDS MICROENTERPRISE 

POLICY

TOTAL

AFRICA Angola $400 $1,763 $2,163

Benin $783 $783

Burkina Faso $366 $366

CAFR $575 $575

DR Congo $300 $300

Eritrea $819 $819

Ethiopia $300 $500 $800

Ghana $2,802 $2,802

Guinea $690 $690

Kenya $800 $407 $150 $1,357

Liberia $4 $4

Madagascar $800 $800

Malawi $550 $318 $2,153 $3,021

Mali $1,400 $1,400

Mozambique $3,100 $3,100

Namibia $0 $0

Nigeria $0 $0

Senegal $1,228 $2,367 $200 $3,795

Sierra Leone $50 $50

South Africa $150 $250 $400

Sudan $2,550 $2,550

Tanzania $4,900 $4,900

Uganda $1,620 $3,208 $170 $4,998

WARP $500 $500

Zambia $200 $200

Zimbabwe $1,506 $1,506

Total AFRICA $11,006 $1,268 $25,086 $520 $37,879

ANE Afghanistan $980 $3,550 $4,530

Bangladesh $357 $1,134 $1,491

East Timor $317 $25 $919 $663 $1,924

Egypt $7,400 $7,400

India $520 $3,548 $4,068

Indonesia $800 $654 $1,454

Iraq $0

Jordan $2,966 $389 $3,355

Mongolia $2,645 $2,645

Morocco $196 $196

Nepal $900 $200 $1,100

Pakistan $5,000 $5,000

Philippines $2,680 $300 $2,980

Tibet $1,500 $1,500

ANNEX B

Microenterprise Funding by USAID Bureau, 2004

(US$ '000s)
West Bank 

/Gaza

$0 $0

Total ANE $20,416 $325 $15,385 $1,517 $37,643

EE Albania $1,127 $523 $1,650

Armenia $250 $3,909 $4,159

Azerbaijan $278 $75 $353

Belarus $38 $38

Bulgaria $1,221 $1,221

Croatia $3,606 $3,606

EE Bureau $325 $325

 Georgia $1,200 $225 $75 $1,500

Kazakhstan $1,399 $369 $1,768

Kosovo $450 $450

Kyrgyzstan $1,793 $56 $667 $150 $2,666

Macedonia $0 $0

Moldova $173 $198 $2,811 $1,023 $4,205

Montenegro $110 $1,020 $1,130

Romania $1,412 $1,412

Russia $1,858 $542 $500 $2,900

Serbia $139 $4,014 $4,153

Tajikistan $1,567 $207 $2 $15 $1,791

Turkmenistan $34 $34

Ukraine $880 $697 $3,630 $8,406 $13,613

Uzbekistan $1,985 $99 $2,084

Total E&E $15,392 $2,251 $21,260 $10,158 $49,060

LAC Bolivia $1,261 $1,261

Brazil $771 $200 $971

Colombia $6,169 $14,663 $20,832

Ecuador $1,299 $1,299

El Salvador $1,565 $1,565

Guatemala $1,630 $1,630

Guyana $20 $20 $160 $200

Haiti $670 $500 $1,170

Honduras $1,000 $1,000

Jamaica $804 $1,967 $2,771

LAC Bureau $612 $612

Mexico $3,024 $800 $3,824

Nicaragua $1,108 $1,108

Panama $769 $769

Peru $2,376 $2,428 $4,804

Total LAC $17,627 $2,081 $23,748 $360 $43,816

GLOBAL DC $2,697 $2,697

MD $4,418 $2,314 $1,800 $2,276 $10,808

PVC $3,776 $212 $5,013 $9,001

$10,891 $2,526 $6,813 $2,276 $22,505

GRAND TOTAL $75,332 $8,451 $92,292 $14,830 $190,904

Total GLOBAL
Region Country Finance Financial 

Polic

y

BDS Microenterprise Policy Total

AFRICA Angola $400 $1,763 $2,163

Benin $783 $783Burkina Faso $366 $366Central Africa Regional $575 $575DR Congo $300 $300Eritrea $819 $819Ethiopia $355 $500 $855Ghana $74 $2,802 $2,876Guinea $690 $690Kenya $75 $800 $407 $150 $1,432Liberia $4 $4Madagascar $300 $800 $1,100Malawi $550 $318 $2,153 $3,021Mali $1,400 $1,400Mozambique $3,100 $3,100Namibia $0 $0Nigeria $0 $0Senegal $1,474 $2,367 $200 $4,041Sierra Leone $50 $50South Africa $150 $150 $600 $900Sudan $2,550 $2,550Tanzania $4,900 $4,900Uganda $1,620 $3,208 $170 $4,998WARP $500 $500Zambia $200 $200Zimbabwe $1,506 $1,506

Total AFRICA $11,606 $1,568 $25,436 $520 $39,129

Microenterprise Funding by Region, 2004

(US$ '000s)

ANNEX C
ASIA Bangladesh $831 $1,134 $1,965

East Timor $317 $25 $919 $663 $1,924India $1,120 $3,548 $4,668Indonesia $184 $800 $654 $1,638Mongolia $2,645 $2,645Nepal $900 $200 $1,100

Pakistan $5,000 $250 $5,250Philippines $2,680 $300 $2,980Tibet $1,500 $1,500

Total ASIA $10,132 $325 $11,696 $1,517 $23,670

EUROPE & Albania $1,127 $523 $1,650EURASIA Armenia $250 $3,909 $4,159

Azerbaijan $278 $75 $353Belarus $38 $38

Bulgaria $1,221 $1,221Croatia $3,606 $3,606EE Region $325 $325Georgia $1,200 $225 $75 $1,500Kazakhstan $1,399 $369 $1,768Kosovo $450 $450Kyrgyzstan $1,793 $56 $667 $150 $2,666Macedonia $0 $0Moldova $266 $198 $2,811 $1,023 $4,298Montenegro $110 $1,020 $1,130Romania $1,412 $1,412Russia $2,086 $542 $500 $3,128Serbia $139 $4,014 $4,153Tajikistan $1,567 $207 $2 $15 $1,791Turkmenistan $34 $34Ukraine $880 $697 $3,630 $8,406 $13,613Uzbekistan $1,985 $99 $2,084

Total E&E $15,713 $2,251 $21,260 $10,158 $49,381

LATIN Bolivia $1,261 $1,261AMERICA & Brazil $771 $200 $971CARIBBEAN Colombia $7,293 $14,663 $21,956
Ecuador $1,531 $1,531

El Salvador $1,565 $1,565Guatemala $44 $1,630 $1,674Guyana $20 $20 $160 $200Haiti $670 $500 $1,170Honduras $206 $1,000 $1,206Jamaica $804 $1,967 $2,771LAC Region $612 $612Mexico $3,224 $800 $4,024Nicaragua $1,108 $1,108Panama $769 $769Peru $2,684 $2,428 $5,112Trinidad $73 $73

Total LAC $19,814 $2,081 $23,748 $360 $46,003

NEAR EAST Afghanistan $980 $3,550 $4,530

Egypt $7,400 $7,400Iraq $0 $0Jordan $2,966 $389 $3,355Morocco $196 $196West Bank /Gaza $0 $0

Total NEAR EAST $11,542 $3,939 $15,481

WORLDWIDE* Worldwide $6,525 $2,226 $6,213 $2,276 $17,239

Total WORLDWIDE $6,525 $2,226 $6,213 $2,276 $17,239

$75,332 $8,451 $92,292 $14,830 $190,904

*Worldwide refers to funds used for salaries, training, and research that serve all of USAID'sfield operations. It also includes funding support to PVO headquarters based in North America. 

GRAND TOTAL
BUREAU MISSION AEEB CSD/HIV MEPI DA ESF FSA INC LC 

AFRICA Angola $1,863 $300 

Benin $350 $433 

Burkina Faso $366 CAFR $350 $225 DR Congo $300 Eritrea $819 Ethiopia $800 Ghana $30 $2,772 Guinea $690 Kenya $1,357 

Liberia $4 

Madagascar $800 Malawi $3,021 

Mali $100 $1,300 Mozambique $3,100 Namibia $0 

Nigeria $0 

Senegal $3,795 

Sierra Leone $50 

South Africa $400 Sudan $2,550 

Tanzania $4,900 Uganda $4,998 WARP $500 

Zambia $200 Zimbabwe $500 $1,006 

Total AFRICA $600 $33,183 $525 $3,571 

ASIA/ Afghanistan $4,530 NEAR EAST Bangladesh $1,134 $357 

Microenterprise Funding by Fund Account, 2004

(US$ '000s)
East Timor $1,924 

Egypt $7,400 India $4,068 Indonesia $1,454 Iraq Jordan $1,555 $1,800 Mongolia $2,645 Morocco $196 

Nepal $900 $200 Pakistan $5,000 Philippines $2,980 Tibet $1,500 West Bank /Gaza $0 

Total ANE $196 $21,990 $13,300 $2,157 

EUROPE/ Albania $1,650 

EURASIA Armenia $4,159 

Azerbaijan $353 Belarus $38 Bulgaria Croatia $3,606 EE Bureau Georgia $1,500 Kazakhstan $1,768 Kosovo $450 

Kyrgyzstan $2,666 Macedonia Moldova $4,205 Montenegro $1,130 Romania Russia $2,900 Serbia Tajikistan $1,791 Turkmenistan $34 Ukraine $13,613 Uzbekistan $2,084 

Total EE $6,836 $35,113 
LAC Bolivia $1,261 

Brazil $811 $160 

Colombia $740 $20,823 Ecuador $1,299 

El Salvador $1,565 Guatemala $800 $830 

Guyana $200 Haiti $1,170 Honduras $1,000 

Jamaica $2,771 LAC Bureau $612 

Mexico $3,824 

Nicaragua $1,108 

Panama $490 $279 Peru $1,898 $546 $2,360 

Total LAC $17,271 $1,609 $21,369 $4,298 

GLOBAL DC $2,697 

MD $10,808 PVC $9,001 

Total GLOBAL $22,505 

GRAND TOTAL $6,836 $600 $196 $94,950 $15,434 $35,113 $21,369 $10,026 
BUREAU MISSION OFFICE INSTITUTION FUNCTION OBLIGATION 

AMOUNT

AFRICA Angola Mission/Angola CLUSA Cooperative League of the United States/Angola NONCRD $1,161

Mission/Angola Development Workshop/Angola CREDIT $100

Mission/Angola NVB NovoBanco S.A.R.L./Angola CREDIT $300

USAID/Angola WV World Vision/Angola NONCRD $602

Total Angola $2,163

Benin Governance CRS/Benin CREDIT $433

Governance SOAG/Benin CREDIT $350

Total Benin $783

Burkina Faso Title II Local Currency CRS/Burkina Faso CREDIT $366

Total Burkina Fasa $366

CAFR CBFP/CARPE AWF African Wildlife Foundation/Central Africa Regional NONCRD $575

Total CAFR $575

DR Congo Pact Inc Partners Acting Together DR Congo $300

Total DR Congo $300

Eritrea Economic Growth/Food REU Rural Enterprise Unit/Eritrea CREDIT $354

Human and Institutional REU Rural Enterprise Unit/Eritrea CREDIT $465

Total Eritrea $819

Ethiopia Mission ACDI/VOCA/Ethiopia CREDIT $160

Mission ACSI Amhara Credit and Saving Institute/Ethiopia CREDIT $140

USAID/Ethiopia missionACDI/VOCA/Ethiopia NONCRD $500

Total Ethiopia $800

Ghana PRIVATE SECTOR ADRA Adventist Relief Agency/Ghana NONCRD $855

PRIVATE SECTOR Ghana Co-operative of Susu Collectors NONCRD $11

PRIVATE SECTOR OICI Opportunities Industrialization Centers International/GhaNONCRD $51

PRIVATE SECTOR TNS/G TechnoServe/Ghana NONCRD $1,885

Total Ghana $2,802

Guinea NRM Enrma Expanded Naturel Ressources Management/Guinea CREDIT $690

Total Guinea $690

Kenya ABEO DAI/Kenya (dba Kenya Microfinance Capacity Buildin DeveloFINPOL $800

ABEO Kenya BDS USAID Kenya BDS Program/Kenya NONCRD $407

ABEO KIPPRA Kenya Institute for Public Policy Research and AnalyNONPOL $150

Total Kenya $1,357

Liberia AGRHA Action for Greater Harvest/Liberia NONCRD $4

Total Liberia $4

Madagascar Economic Growth Chemonics International Inc./Madagascar NONCRD $200

Environment and Rural DChemonics International Inc./Madagascar NONCRD $600

Total Madagascar $800

Malawi USAID Malawi Chemonics International, Inc./Malawi CREDIT $250

USAID Malawi Chemonics International, Inc./Malawi FINPOL $318

USAID Malawi Chemonics International, Inc./Malawi NONCRD $850

USAID Malawi IFDC International Fertilizer Development Center/Malawi NONCRD $503

USAID Malawi NASFAM National Smallholders Farmers` Association of MalNONCRD $800

USAID Malawi OIBM Opportunity International Bank of Malawi/Malawi CREDIT $300

Total Malawi $3,021

Mali USAID/Mali AEG Chemonics International/Mali CREDIT $300

USAID/Mali Health CARE/Mali CARE/Mali CREDIT $100

USAID/Mali/AEG Chemonics International/Mali CREDIT $1,000

Total Mali $1,400

Mozambique ACDI/VOCA Mozambique/Mozambique NONCRD $750

ADRA/Mozambique NONCRD $50

Africare/Mozambique NONCRD $50

AWF/Mozambique NONCRD $163

CARE/Mozambique NONCRD $50

CLUSA Cooperative League of the United States of America/MNONCRD $750

CTA Confederation of Business Associations/Mozambique NONCRD $250

FEMA/Mozambique NONCRD $38

ANNEX E

Institutions with Amounts of 2004 Funding by Bureau

(US$ '000s)
FHI/Mozambique Food For The Hungry International/MozambNONCRD $50

Save the Children/Mozambique NONCRD $50

TechnoServe, Inc./Mozambique NONCRD $850

World Vision/Mozambique NONCRD $50

Total Mozambique $3,100

Nigeria SOAG/Nigeria CREDIT $0

Total Nigeria $0

Senegal Private sector Chemonics International Inc. - DynaEntreprises Project/Seneg CREDIT $1,228

Private Sector EWW EnterpriseWorks Worldwide/Senegal NONCRD $600

Private Sector SOAG/Senegal NONCRD $1,767

Private Sector SOAG/Senegal NONPOL $200

Total Senegal $3,795

Sierra Leone ARC American Refugee Committee/Sierra Leone NONCRD $50

Total Sierra Leone $50

South Africa South Africa IBM Business Consulting Services/South Africa FINPOL $150

South Africa WEI World Education NTINGA/South Africa NONCRD $250

Total South Africa $400

Sudan SFO Chemonics International Inc./Sudan CREDIT $2,550

Total Sudan $2,550

Tanzania Economic Growth ACDI/VOCA/Tanzania NONCRD $750

Economic Growth ApproTEC Appropriate Technologieds for Enterprise CreationNONCRD $100

Economic Growth DAI Development Alternatives, Inc./Tanzania NONCRD $2,400

Economic Growth Enterprise Works/Tanzania NONCRD $650

Economic Growth TechnoServe Tanzania NONCRD $550

Economic Growth Tuskeege University/Sokoine University/Tanzania NONCRD $450

Total Tanzania $4,900

Uganda ACDI/VOCA/REAP II/Uganda NONCRD $68

Chemonics/APEP/Uganda NONCRD $1,800

Chemonics/SCOPE/Uganda NONPOL $170

Chemonics/SPEED/Uganda CREDIT $1,350

DAI/PRIME/WEST Productive Resources Investment for ManNONCRD $1,200

Fisheries Project/Uganda NONCRD $50

Land O`Lakes/Uganda NONCRD $90

Rural SPEED Chemonics/Rural SPEED/Uganda CREDIT $270

Total Uganda $4,998

WARP Carana/WARP NONCRD $150

IBI International Business Initiatives/WARP NONCRD $100

ICRISAT/WARP NONCRD $250

Total WARP $500

Zambia USAID/Zambia CLUSA RGB Copperbelt program Co-operative League of theNONCRD $10

USAID/Zambia IDE International Development Enterprises/Zambia NONCRD $20

USAID/Zambia IESC Copperlink International Executive Services Corp CoppeNONCRD $50

USAID/Zambia ZAMTIE Zambia Trade and Investment Enhancement/ZambiaNONCRD $10

USAID/Zambia ZATAC Zambia Agribusiness Technical Assistance Center/ZaNONCRD $10

USAID/Zambia ZCSMBA-LADT ZCSMBA-Lyambai Agricultural DevelopmNONCRD $100

Total Zambia $200

Zimbabwe SED LEAD Linkages for the Economic Advancement of the DisadvNONCRD $1,506

$1,506

$37,879

ANE Afghanistan ANE Bearing Point/Afghanistan NONCRD $100

ANE Chemonics/Afghanistan CREDIT $980

ANE Chemonics/Afghanistan NONCRD $3,450

Total Afghanistan $4,530

Bangladesh Office of Economic GrowCARE/Bangladesh CREDIT $84

Office of Economic GrowIRG International Resources Group/Bangladesh NONCRD $9

Office of Economic GrowIRIS/JOBS University of Maryland/Bangladesh NONCRD $62

Office of Economic GrowWI (MACH) Winrock International (Management of Aquatic ECREDIT $273

Office of Economic GrowWI (MACH) Winrock International (Management of Aquatic ENONCRD $63

Office of Economic GrowWorldFish Center/Bangladesh NONCRD $1,000

Total Bangladesh $1,491

East Timor DAI/East Timor CREDIT $317

DAI/East Timor FINPOL $25

DAI/East Timor NONCRD $919

DAI/East Timor NONPOL $663

Total East Timor $1,924

Total Zimbabwe

TOTAL AFRICA
Egypt SEB Activity LEAD The Egyptian Foundation for Lending, Empowering, ACREDIT $7,400

Total Egypt $7,400

India USAID/India ACDI/VOCA ACDI/VOCA/India NONCRD $2,600

USAID/India CHF Cooperative Housing Foundation International/India NONCRD $948

USAID/India HFF Healing Fields Foundation/India CREDIT $520

Total India $4,068

Indonesia Economic Growth OfficeACDI/VOCA Agricultural Cooperative Development InternatiNONCRD $450

Economic Growth OfficeGIAT/Nathan MSI Growth through Investment And Trade/IndNONPOL $200

Economic Growth OfficeSENADA Indonesia Enterprise and Agriculture Development NONPOL $242

Economic Growth OfficeThe Asia Foundation/Indonesia NONPOL $213

Food For Peace MC Mercy Corps/Indonesia NONCRD $350

Total Indonesia $1,454

Jordan AMIR Program Achievement of Market-Friendly Initiatives anCREDIT $1,166

AMIR Program Achievement of Market-Friendly Initiatives anNONCRD $389

Enhanced Productivity Program/Jordan CREDIT $1,800

Total Jordan $3,355

Mongolia USAID/Mongolia CHF/Mongolia GER Initiative/Mongolia NONCRD $845

USAID/Mongolia Gobi Initiative -Phase II Mercy Corps and PACT Inc./Mongol NONCRD $1,800

Total Mongolia $2,645

Morocco Economic Growth SGMB Bank/Morocco CREDIT $196

Total Morocco $196

Nepal General Development O IDE International Development Enterprises/Nepal NONCRD $900

Mission (Special Project WE World Education Incorporated/Nepal NONPOL $200

Total Nepal $1,100

Pakistan KB Khushhalibank/Pakistan CREDIT $1,800

PPAF Pakistan Poverty Alleviation Fund/Pakistan CREDIT $3,200

Total Pakistan $5,000

Philippines Office of Economic Dev DAI/TPPA Development Alternatives Inc./Transnational Publ FINPOL $300

Office of Economic DevChemonics International, Inc./Philippines CREDIT $1,680

Office of Economic Dev WOCCU/CUES- Credit Union Empowerment & Strengthenin CREDIT $850

Office of Economic Dev WOCCU/CUES/ Credit Union Empowerment & StrengtheningCREDIT $150

$2,980

Tibet TBF The Bridge Fund/Tibet NONCRD $1,120

TMI The Mountain Institute NONCRD $148

Winrock International/Tibet NONCRD $232

$1,500

$37,643

EE Albania Mission/Albania DAI Development Alternatives Inc./Albania NONCRD $300

Mission/Albania ISB/ACIT Institute for Contemporary Studies/Albania NONCRD $50

Mission/Albania LOL Land O`Lakes, Inc./Albania NONCRD $173

Mission/Albania PSHM Partneri Shqiptar ne Mikrokredi/Albania CREDIT $1,127

Total Albania $1,650

Armenia Mission Chemonics/Armenia NONCRD $2,812

Mission DAI/Armenia CREDIT $250

Mission DAI/Armenia NONCRD $1,097

Total Armenia $4,159

Azerbaijan USAID/Baku Foundation for International Community Assistance/AzerbaijaCREDIT $69

USAID/Baku Mercy Corps International/Azerbaijan CREDIT $209

USAID/Baku Mercy Corps International/Azerbaijan NONCRD $75

Total Azerbaijan $353

Belarus USAID/Belarus EF Eurasia Foundation/Belarus NONPOL $38

Toal Belarus $38

Bulgaria USAID/Bulgaria CRS Catholic Relief Services/Bulgaria CREDIT $521

USAID/Bulgaria NACHALA Cooperative/Bulgaria CREDIT $700

Total Bulgaria $1,221

Croatia USAID Croatia DAI Development Alternatives Inc./Croatia NONCRD $3,473

USAID Croatia Deloitte Touche Tohmatsu Deloitte Touche Tohmatsu/Croatia NONCRD $133

Total Croatia $3,606

EE Bureau EE/EG EWMI East-West Management Institute/EE Region FINPOL $300

EE/EG Microfinance Center/Poland FINPOL $25

Total EE Bureau $325

Georgia USAID/Georgia, EconomChemonics International/Georgia CREDIT $1,200

USAID/Georgia, EconomChemonics International/Georgia FINPOL $225

USAID/Georgia, EconomChemonics International/Georgia NONPOL $75

Total ANE

Total Tibet

Total Phillippines
Total Georgia $1,500

Kazakhstan CDC/MBAEC Citizens Democracy Corps, Inc/Central Asian RNONCRD $14

Junior Achievement/Kazakhstan NONCRD $4

Pragma Corp/Kazakhstan NONCRD $352

USAID/CAR CAMFA/Central Asian Republics CREDIT $250

USAID/CAR EBRD/KSBP European Bank for Reconstruction and Develop CREDIT $972

USAID/CAR Pragma Corp/Kazakhstan CREDIT $177

Total Kazakhstan $1,768

Kosovo EGO/Mission K.C.B.S. Kosovo Cluster and Business Support/Kosovo NONPOL $450

Total Kosovo $450

Kyrgyzstan CDC/MBAEC Citizens Democracy Corps, Inc/Central Asian RNONCRD $4

IFDC International Fertilizer Development Center/Kyrgyzstan NONCRD $315

IRT Investment Round Table Public Association/Kyrgyzstan FINPOL $56

Junior Achievement/Kyrgyzstan NONCRD $3

Land Reform/Kyrgyzstan NONCRD $83

Pragma Corp/Kyrgyzstan NONCRD $154

USAID Legal Infrastructure For a Market Economy Project, imNONCRD $110

USAID/CAR Barents Group of KPMG Consulting/Kyrgyzstan NONPOL $20

USAID/CAR BTFF (Microcredit Agency) Bai Tushum Financial FoundationCREDIT $178

USAID/CAR CAMFA/Central Asian Republics CREDIT $1,045

USAID/CAR Land Reform/Kyrgyzstan NONPOL $21

USAID/CAR MSFF EBRD Micro and Small Finance Facility Kyrgyzstan/KCREDIT $570

USAID/CAR USAID Legal Infrastructure For a Market Economy Project, imNONPOL $110

Total Kyrgyzstan $2,666

BIZPRO-Moldova Development Alternatives Inc./Moldova FINPOL $198

BIZPRO-Moldova Development Alternatives Inc./Moldova NONCRD $346

Moldova USAID/Moldova AgroIndBank Moldova-AgroIndBank/Moldova CREDIT $104

USAID/Moldova BIZPRO-Moldova Development Alternatives Inc./Moldova NONPOL $1,023

USAID/Moldova CNFA Citizens Network of Foreign Affairs/Moldova NONCRD $300

USAID/Moldova PFAP-E East-West Management Institute/Moldova NONCRD $2,165

USAID/Moldova Victoriabank/Moldova CREDIT $69

Total Moldava $4,205

Montenegro Economic Policy and FinBAH Booz Allen Hamilton/Montenegro CREDIT $110

General Development O Cooperative Housing Foundation CHF/Montenegro NONCRD $788

General Development O International Releif and Development IRD/Montenegro NONCRD $232

Total Montenegro $1,130

Romania Private Sector Initiative CHF CHF International Romania/Romania CREDIT $1,412

Total Romania $1,412

Russia Office of Economic GrowACDI/VOCA/Russia CREDIT $500

Office of Economic GrowDAI Development Alternatives, Inc./Russia CREDIT $858

Office of Economic GrowDAI Development Alternatives, Inc./Russia FINPOL $542

Office of Economic GrowFINCA/Tomsk/Russia CREDIT $500

Office of Economic GrowUAA University of Alaska Anchorage/Russia NONCRD $100

Office of Economic GrowWinrock Winrock International/Russia NONCRD $400

Total Russia $2,900

Serbia Economic Policy and FinBooz Allen Hamilton/Serbia NONCRD $323

Economic Policy and FinOpportunity International/Serbia CREDIT $139

General Development O ACDI/VOCA CDRA/Serbia NONCRD $1,990

General Development O ADF America`s Development Foundation/Serbia NONCRD $507

General Development O CHF Cooperative Housing Foundation/CRDA/Serbia NONCRD $326

General Development O IRD International Relief and Development, Inc./CRDA/Serbia NONCRD $506

General Development O MCI Mercy Corps International/Serbia NONCRD $362

Total Serbia $4,153

Tajikistan CAMFA/Central Asian Republics CREDIT $455

EBRD European Bank for Reconstruction and Development/TCREDIT $100

MDTM Micro-entrepreneur Development Support Center/TajiCREDIT $220

Pragma Corp/Tajikistan NONCRD $2

USAID/CAR ARD/CHECCHI/Tajikistan NONPOL $15

USAID/CAR EF CAMFA/Central Asian Republics CREDIT $155

USAID/CAR EF EBRD European Bank for Reconstruction and Development/TCREDIT $99

USAID/CAR EF IFC/Tajikistan FINPOL $207

USAID/CAR EF MDTM Micro-entrepreneur Development Support Center/TajiCREDIT $538

$1,791

Turkmenistan Pragma Corporation/Turkmenistan NONCRD $34

$34

Total Tajikistan

Total Turkmenistan
Ukraine ODG Chemonics-LED/Ukraine FINPOL $76

ODG CURE/UREP Center for Ukrainian Reform Education/UkraineNONPOL $267

ODG Eurasia Foundation/Ukraine NONCRD $148

BIZPRO-DAI/Ukraine NONCRD $603

OEG BIZPRO-DAI/Ukraine NONPOL $2,565

OEG Chemonics-LED/Ukraine NONPOL $76

OEG Chemonics Urban/Rural Land Titling Initiative/Ukraine NONPOL $5,498

OEG CLC DTT/Emerging Markets Group/Ukraine FINPOL $222

OEG LOL AMP-Land O`Lakes/Ukraine NONCRD $1,821

OEG LSU AgCenter Louisiana State University Agricultural Center NONCRD $866

OEG NTCA BIC NTCA Business Internet Centers/Ukraine NONCRD $192

OEG Pragma ATC The Pragma Corporation/Ukraine FINPOL $400

OEG UMLP Ukraine Micro Lending Program/Ukraine CREDIT $880

Total Ukraine $13,613

Uzbekistan CDC/MBAEC/Uzbekistan NONCRD $4

Junior Achievement/Uzbekistan NONCRD $9

Pragma/Uzbekistan NONCRD $87

USAID/CAR CAMFA/Central Asian Republics CREDIT $500

USAID/CAR O`z-MARD Uzbekistan Micro-entrepreneur Population DeveloCREDIT $781

USAID/CAR WOCCU World Council of Credit Unions, Inc./Uzbekistan CREDIT $704

$2,084

$49,058

GLOBAL DC MSED Program Aval Card/Honduras CREDIT $206

MSED Program Banco de Bogota/Colombia CREDIT $80

MSED Program Banco de Occidente/Colombia CREDIT $20

MSED Program BANCO SOLIDARIO S.A. Ecuador CREDIT $232

MSED Program Bank NISP Indonesia CREDIT $184

MSED Program Bank of Abyssinia Ethiopia CREDIT $55

MSED Program Banrural CREDIT $44

MSED Program Cal Merchant Bank/Ghana CREDIT $39

MSED Program CBAO Senegal CREDIT $246

MSED Program Center-Invest Bank Russia CREDIT $228

MSED Program Corp Fin Del Valle Colombia CREDIT $24

MSED Program Dhaka Bank Bangladesh CREDIT $130

MSED Program Ecobank/ Ghana CREDIT $35

MSED Program FinCom Bank Moldova CREDIT $93

MSED Program KBL K-Rep Bank Ltd. Kenya CREDIT $75

MSED Program National Bank Bangladesh CREDIT $226

MSED Program Oikocredit Worldwide CREDIT $281

MSED Program Prime Bank Bangladesh CREDIT $118

MSED Program Royal Bank Trinidad CREDIT $73

MSED Program Solucion Financiera de Credito del Peru CREDIT $308

MSED Program Total DC $2,697

GLOBAL MD AMAP Knowledge Man The QED Group, LLC/Worldwide NONPOL $700

AMAP Knowledge MgmChemonics International, Inc./USA CREDIT $958

AMAP Knowledge MgmDAI Development Altermatives Inc. CREDIT $1,120

AMAP Knowledge MgmIBM (Formerly PriceWaterhouseCoopers)/Worldwide CREDIT $200

AMAP Knowledge MgmACDI/VOCA/Worldwide NONCRD $950

AMAP Knowledge MgmDAI Development Altermatives Inc. NONCRD $250

AMAP Knowledge MgmDAI Development Altermatives Inc. FINPOL $80

AMAP Knowledge MgmIRIS Center for Institutional Reform and the Informal Sector/WFINPOL $400

AMAP Knowledge MgmMSI Management Systems International/USA FINPOL $70

AMAP Support ServicesThe QED Group, LLC/Worldwide NONPOL $633

AMAP Support ServicesWeidemann Assoc./Worldwide NONPOL $783

CORE Support MD Office of Microenterprise Development/Worldwide FINPOL $1,465

EGAT/MD Rockefeller Philanthropy Advisors/Worldwide NONPOL $160

IGP ADMIC/Mexico CREDIT $200

IGP Cashpor/India CREDIT $600

IGP FINAMERICA/Colombia CREDIT $1,000

IGP MEDA Mennonite Economic Development Associates/PakistaNONCRD $250

IGP MicroRate CREDIT $40

IGP Triple Trust Organization/South Africa NONCRD $250

IGP WEI World Education NTINGA/South Africa NONCRD $100

PRIME Chemonics Chemonics International Inc./Madagascar FINPOL $300

Total EE 

Total Uzbekistan
PRIME IBM Business Consulting Services/South Africa CREDIT $150

SEGIR Buy-in to DeloittMD Office of Microenterprise Development/Worldwide CREDIT $150

Total MD $10,808

PVC AAC/MIS Americas Assoc of Coops/Mutual Insur. Soc/WorldNONCRD $693

ACCION International/LAC Region CREDIT $274

ACDI/VOCA/Worldwide CREDIT $312

ACDI/VOCA/Worldwide NONCRD $411

ADRA Adventist Development and Relief Agency CREDIT $86

AED Academy for Educational Development/Worldwide NONCRD $949

ATA Aid to Artisans/USA NONCRD $763

CHF Cooperative Housing Foundation NONCRD $564

CRS Catholic Relief Services/Worldwide CREDIT $99

FINCA International/USA CREDIT $257

Freedom from Hunger/USA CREDIT $235

IDE International Development Enterprises/Worldwide NONCRD $244

Land O`Lakes/Worldwide NONCRD $100

NCBA National Cooperative Business Association/USA NONCRD $200

PADF Pan American Development Foundation/LAC Region NONCRD $91

Plan International/Worldwide CREDIT $366

SEEP Network/Worldwide CREDIT $525

TechnoServe/Worldwide NONCRD $532

TMI The Mountain Institute/Worldwide NONCRD $465

World Council of Credit Unions/Worldwide CREDIT $470

World Council of Credit Unions/Worldwide FINPOL $212

WR World Relief/USA CREDIT $597

WV World Vision Relief and Development/Worldwide CREDIT $556

$9,000

$22,505

LAC Bolivia DAI DAI PREMIER/Bolivia FINPOL $1,261

Total Bolivia $1,261

Brazil EGAT ITC International Trade Center/ Brazil NONCRD $43

CRS Catholic Relief Services/Worldwide NONCRD $160

DAI Brazil NONCRD $568

DAI Brazil NONPOL $200

$971

Colombia USAID/Colombia ACDI/VOCA Agricultural Cooperative Development InternatiNONCRD $2,983

USAID/Colombia ATA Aid to Artisans/Colombia NONCRD $1,000

USAID/Colombia Chemonics International/Colombia NONCRD $6,000

USAID/Colombia CHF Cooperative Housing Foundation/Colombia CREDIT $3,057

USAID/Colombia CHF Cooperative Housing Foundation/Colombia NONCRD $4,394

USAID/Colombia IOM International Office of Migrations/Colombia CREDIT $804

USAID/Colombia PADF Panamerican Development Foundation/Colombia CREDIT $1,618

USAID/Colombia PADF Panamerican Development Foundation/Colombia NONCRD $286

USAID/Colombia POA Partners of the Americas/Colombia CREDIT $690

$20,832

Banco Procredit Sociedata Financiera CREDIT $430

Banco Solidario S.A. Ecuador CREDIT $454

SALTO/DAI Strengthen Access to Microfinance and LiberalizCREDIT $415

$1,299

El Salvador EGE/CAM FOMIR DAI II Develoment Alternatives Inc/El Salvador CREDIT $1,000

EGE/CAM New MED Activity/El Salvador CREDIT $500

$1,500

Guatemala Income and Natural ResoAGEXPRONT/Guatemala NONCRD $400

Income and Natural ResoCRS/Guatemala NONCRD $162

STC Save the Children Guatemala NONCRD $668

Income and Natural ResoTechnoserve/Guatemala NONCRD $400

$1,630

Guyana Mission Carana Corporation/Guyana FINPOL $20

Mission Carana Corporation/Guyana NONCRD $20

Mission Carana Corporation/Guyana NONPOL $160

Total Guyana $200

Haiti ATA Aid to Artisans/Haiti NONCRD $500

Economic Growth DAI/FINNET Financial Services Network Project/Haiti CREDIT $270

Economic Growth FINCA/Haiti CREDIT $400

Total Guatemala

Total El Salvador

Total PVC

Total GLOBAL

Total Columbia

Total Ecuador
Total Haiti $1,170

Honduras Office of Trade, EnvironFintrac CDA Fintrac Inc / Centro de Desarrollo de AgronegociNONCRD $1,000

$1,000

RBTT Grenada Bank of Grenada CREDIT $154

Jamaica Caribbean Regional ProjOECS Organisation of Eastern Caribbean States/Jamaica NONCRD $81

Caribbran Regional ProgCARANA CORPORATION/Jamaica NONCRD $589

Economic Growth CARANA CORPORATION/Jamaica NONCRD $500

Economic Growth JNBS Jamaica National Building Society/Jamaica CREDIT $500

Economic Growth JNBS Jamaica National Building Society/Remittance Project/JNONCRD $277

Economic Growth (ReprJEA Jamaica Exporter`s Association/Jamaica NONCRD $490

Economic Growth (ReprJNBS Jamaica National Building Society/Jamaica CREDIT $150

Office of the Environme ARD Associate in Rural Development/Jamaica NONCRD $30

Total Jamaica $2,771

LAC Bureau LAC Bureau ACCION International/LAC Region CREDIT $312

LAC Bureau FINCA International/USA CREDIT $300

$612

Mexico CII Chemonics International, Inc./Mexico CREDIT $198

USAID/Mexico Proyecto AFIRMA Acceso al Financimiento Rural para la MicCREDIT $2,826

USAID/Mexico Proyecto AFIRMA Acceso al Financimiento Rural para la MicFINPOL $800

Total Mexico $3,824

Nicaragua Trade and Agribusiness ADRA/Nicaragua CREDIT $268

Trade and Agribusiness CRS Catholic Relief Services/Nicaragua CREDIT $510

Trade and Agribusiness PCI Project Concern International Nicaragua CREDIT $330

Total Nicaragua $1,108

Panama Economic Growth/Envir ACDI/VOCA Agricultural Cooperative Development InternatiNONCRD $279

Economic Growth/Envir AED Academy for Educational Development/Panama NONCRD $490

Total Panama $769

Peru Chemonics/Peru NONCRD $546

CP Caritas del Peru/Peru CREDIT $2,360

Economic Growth FOGAPI Fundacion Fondo de Garantia para Prestamos a la PeCREDIT $16

Mission/Peru Chemonics/Peru NONCRD $111

Mission/Peru COPEME Consorcio de organizaciones privadas de promocionNONCRD $1,771

$4,804

$43,751

$190,835

Total Peru

Total LAC Bureau

Total Honduras

Total LAC

GRAND TOTAL
Region Country Institution Borrowers Portfolio US$ Percent 

Women

Portfo

Ri

AFRICA Angola Development Workshop 1,007 $177,965 81.00% 

NVB NovoBanco 261 $1,211,818 42.91% 

Total Angola 1,268 $1,389,783

Benin CBDIBA Centre 5,002 $824,257 57.48% 

CONVERGENCE 2000 1,661 $222,756 91.99% CRS/Benin 4,728 $327,823 87.60% FECECAM 78,853 $49,549,774 40.00% GRAPAD/CASFIP 5,820 $482,191 86.50% MDB Mutuelle pour le 442 $974,742 35.00% PADME BENIN 37,661 $42,748,957 73.00% PAPME Agence pour 12,794 $41,613,651 44.32% 

Total Benin 146,961 $136,744,151

DR Congo FINCA/DR Congo 13,220 $1,297,296 99.99% 

IRM Innovative 95 $3,451 100.00% 

Total DR Congo 13,315 $1,300,747

Eritrea REU Rural Enterprise Unit 231 $2,064,970 11.00% 

Total Eritrea 231 $2,064,970

Ethiopia WISDOM/Ethiopia 19,912 $2,163,780 42.36% 

Total Ethio

pia 19,912 $2,163,780

Ghana Akoti Rural Bank, 1,401 $97,830 100.00% 

APED Association of Productive 5,005 $346,723 79.00% 

Cal Merchant Bank 6 $40,987 0.00% Ecobank/Ghana 4 $17,766 75.00% Sikaman Savings and Loan 5,110 $4,731,472 51.00% Sinapi Aba Trust 53,331 $4,285,704 93.00% 

Total Ghana 64,857 $9,520,482

Guinea Enrma Expanded Nat'l Resource 16,908 $189,477 37.00% 

Total Guinea 16,908 $189,477

Microfinance Institutions with Portfolio Data by Location of Institution, 2004

A
Kenya Co-op Bank 4,763 $5,000,000 60.00% 

KBL K-Rep Bank 28 $126,749 50.00%  SAGA Thrift 562 $117,334 65.00% 

Total Ken

ya 5,353 $5,244,083

Malawi OIBM Opportunity 2,168 $246,138 78.00% 

Total Malawi 2,168 $246,138

Mali Kafo Jiginew 186,142 $24,009,890 25.00% 

Nyesigiso 11,395 $9,500,151 20.00% Soro Yiriwaso/Mali 13,726 $1,081,114 100.00% 

Total Mali 211,263 $34,591,155

Mozambique NovoBanco/Mozambiq 11,350 $6,223,208 14.45% 

Tchuma/Mozambique 7,231 $2,215,064 61.46% 

Total Mozambi

que 18,581 $8,438,272

Nigeria LAPO- Lift Above Poverty 29,812 $1,881,139 98.00% 

Total Nigeria 29,812 $1,881,139

Rwanda WOCCU/Rwanda 68,368 $35,000,000 51.00% 

Total Rwanda 68,368 $35,000,000

Senegal CARITAS/Thies 2,137 $463,658 100.00% 

CBAO/Senegal 11 $69,096 9.09% FADECBA Federation 835 $84,397 100.00% 

Total Senegal 2,983 $617,151

South Africa FINCA Foundation for 643 $69,000 93.00% 

Teba Bank/South 11 $0 43.18% Total South Africa 654 $69,000

Sudan SUMI Sudan 1,206 $99,927 33.00% 

Total Sudan 1,206 $99,927

Uganda FINCA Uganda Foundation for I

n 45,432 $6,082,000 90.00% 

FOCCAS Foundation for Credit a 16,443 $1,171,512 100.00% FTCU Feed The Children Uganda 12,375 $896,573 67.00% FUL Faulu Uganda Ltd./Uganda 15,213 $3,430,558 63.00% MED-Net Microenterprise Develo 15,541 $2,405,608 62.00% Teso Rural Development Trust/Ug 10,928 $528,195 78.00% UMU Uganda Microfinance Unio 35,787 $10,780,753 52.00% U-TRUST UGANDA FINANC

E 13,354 $6,889,402 71.00% 

Total Uganda 165,073 $32,184,601

Zimbabwe Kingdom 5,947 $616,434 0.00% 
SHDF (SCORE) Self-Help Deve 3,453 $632,444 80.51% 

Zambuko Trust 10,252 $479,733 77.00% 

Total Zimbabwe 19,652 $1,728,611

TOTAL AFRICA 788,565 $273,473,467

ASIA Bangladesh CARE 15,476 $1,030,155 100.00% 

Dhaka Bank 16 $70,055 0.00% MACH Caritas 2,587 $282,894 33.00% National Bank 1 $4,310 0.00% Prime Bank 13 $75,920 7.69% 

Total Bangladesh 18,093 $1,463,334

East Timor Casphor Technical 6,408 $427,000 100.00% 

CCF Christian 2,027 $107,155 100.00% CRS Catholic Relief 1,524 $63,126 100.00% Oportunidade Timor 2,874 $199,225 58.00% 

Total East Timor 12,833 $796,507

India Cashpor/India 39,323 $3,325,102 100.00% 

SEWA 15,362 $4,209,630 100.00% 

Total India 54,685 $7,534,732

Indonesia Bank NISP/Indonesia 70 $168,724 32.86% 

70 $168,724

Mongolia Mercy Corps/XAC 31,962 $17,048,726 24.49% 

31,962 $17,048,726

Nepal NUBL Nirdhan Utthan 46,315 $4,664,305 100.00% 

46,315 $4,664,305

Pakistan CWCD Centre for 253 $71,084 66.40% 

KB Khushalilbank 175,059 $23,653,709 25.00% NLCL Network 806 $1,704,021 21.00% PRSP Punjab Rural 6,431 $1,090,034 40.00% RCDS Rural 1,394 $245,840 20.00% Total Pakistan 183,943 $26,764,688

Philippines Bangko Kabayan/Philippines 3,257 $82,360 83.00% 

Bangko Mabuhay/Philippines 562 $101,043 87.00% Bangko Santiago de Libon/Philipp 5,730 $424,857 82.00% Bank of Florida/Philippines 56 $46,280 70.00% Bank Victorias/Philippines 852 $150,050 78.00% Bukidnon Cooperative Bank/Phili 3,371 $233,703 83.00% 
Century Rural Bank/Philippines 500 $64,163 85.00% 

CEV Community Economic Ventu 15,235 $1,014,413 89.00% Cooperative Bank of Misamis Ori 1,762 $405,759 80.00% Country Bank/Philippines 435 $78,332 85.00% FICO First Isabela Cooperative Ba 914 $340,897 77.00% First Macro Bank/Philippines 591 $158,534 80.00% MRB Maranao Rural Bank/Philipp 2,962 $438,605 84.00% Rang-Ay Bank/Philippines 684 $89,311 74.00% RISE Responsible Investments for 47,919 $3,997,676 98.00% Rural Bank of Bogo/Philippines 180 $20,686 78.00% Rural Bank of Cantilan/Philippine 6,360 $584,785 85.00% Rural Bank of Cotabato/Philippine 397 $95,606 78.00% Rural Bank of Datu Paglas/Philipp 183 $35,192 76.00% Rural Bank of Digos/Philippines 1,478 $116,112 83.00% Rural Bank of Dipolog/Philippine 401 $112,672 82.00% Rural Bank of Dulag/Philippines 1,628 $319,444 98.00% Rural Bank of Isulan/Philippines 602 $51,470 85.00% Rural Bank of Kapatagan Valley/P 1,897 $426,678 83.00% Rural Bank of Labrador/Philippin 81 $11,183 95.00% Rural Bank of Lebak/Philippines 839 $109,305 84.00% Rural Bank of Mabitac/Philippine 1,421 $239,788 79.00% Rural Bank of Montevista/Philipp 10,665 $702,550 99.00% Rural Bank of Oroquieta/Philippin 192 $65,050 73.00% Rural Bank of Pagbilao/Philippine 190 $46,280 82.00% Rural Bank of Santo Tomas/Philip 675 $149,154 76.00% Rural Bank of Siam, Inc./Philippin 215 $41,562 92.00% Rural Bank of Tacurong/Philippin 3,084 $263,866 87.00% Rural Bank of Tagum/Philippines 170 $51,596 76.00% Rural Bank of Talisayan/Philippin 3,806 $179,897 94.00% Rural Green Bank of Caraga/Phili 7,522 $1,332,560 85.00% Saranggani Rural Bank/Philippine 1,251 $86,849 68.00% WOCCU/CUES-Phils. World Cou 38,761 $11,125,614 100.00% WV World Vision Relief and Dev 15,235 $1,014,413 89.00% Total Phillippines 182,063 $24,808,295

TOTAL ASIA 529,964 $83,249,311

Europe/Eurasia Albania PSHM Partneri Shqiptar ne Mikro 3,934 $6,446,672 73.36% 
Total Albania 3,934 $6,446,672

Armenia ANIV Foundation/Armenia 175 $1,300,000 16.00% 

ARM ECLOF Armenian Ecumeni 2,390 $937,651 32.40% 

FINCA/Armenia 6,466 $3,106,787 45.00% 

MDF Microenterprise Developme 6,536 $2,074,825 69.00% SEF Small Enterprise Fund Intern 1,390 $907,000 31.00% UMCOR AREGAK Microcredit 

P 17,614 $5,746,570 100.00% 

Total Armenia 34,571 $14,072,833

Azerbaijan CredAgro LLC CredAgro Non Ba 1,070 $3,828,000 4.29% 

Foundation for International Com

m 15,018 $3,043,475 48.00% 

SC Save the Children Federation, 3,900 $420,881 38.00% Total Azerbaijan 19,988 $7,292,356

Bosnia CHF Communities, Habit, Financ 2,129 $3,657,223 37.10% 

MIKROFIN/Bosnia 14,034 $25,925,991 34.96% 

Total Bosnia 16,163 $29,583,214

Bulgaria CRS Catholic Relief Services/Bul 4,309 $1,980,282 70.50% 

NACHALA Cooperative/Bulgaria 2,360 $4,443,954 42.86% United Bulgarian Bank/Bulgaria 7 $46,000 14.29% Total Bulgaria 6,676 $6,470,236

Georgia Constanta Foundation/Georgia 18,657 $4,950,935 68.04% 

Crystal Fund/Georgia 1,431 $810,665 62.00% GRDF Georgia Rural Developme

n 904 $2,204,768 11.00% 

SBDF Small Business Developme 1,336 $567,589 70.00% WV/Georgia 1,127 $1,280,777 70.00% Total Georgia 23,455 $9,814,734

Kazakhstan EBRD/KSBP 35,037 $72,076,000 60.00% 

Total Kazakhstan 35,037 $72,076,000

Kyrgyzstan Credit Union "Kairat-Bol"/Kyrgyz 274 $146,179 45.00% 

Credit Union "Kopilka777"/Kyrg

y 118 $39,776 74.30% 

Credit Union "Manzini-Invest-Cre 117 $102,340 45.60% Credit Union "Zabema"/Kyrgyzsta 57 $38,905 67.30% Credit Unioni "ABN"/Kyrgyzsta

n 432 $334,464 54.48% 

FINCA International/Kyrgyzstan 23,064 $8,886,191 84.00% Micro Lending Company "Kyrgyz 1,010 $55,880 100.00% MSFF EBRD Micro and Small Fi

n 8,707 $11,303,285 0.00% 

Public Fund Micro Lending Age

n 77 $416,917 41.60% 
Total Kyrgyzstan 33,856 $21,323,937

Moldova Moldova-AgroIndBank/Moldova 16 $87,913 37.50% 

Moldova AgrolndBank/Moldova 2,707 $28,252,143 0.00% 

Victoriabank/Moldova 1,964 $11,966,141 48.00% 

Total Moldova 4,687 $40,306,197

Romania CHF Romania 1,820 $5,143,059 39.05% 

Total Romania 1,820 $5,143,059

Russia ACDI/VOCA/Russia 578 $1,972,884 66.42% 

Center-Invest Bank/Russia 6 $35,484 16.67% FINCA/Tomsk/Russia 1,749 $1,238,660 85.00% Russia Banker`s House 2 $7,759 50.00% Total Russia 2,335 $3,254,787

Serbia Opportunity International 2,523 $4,977,168 42.00% 

Total Serbia 2,523 $4,977,168

Tajikistan FINCA/Tajikistan 312 $40,514 66.00% 

Total Tajikistan 312 $40,514

Ukraine UMLP Ukraine Micro Lending Pr 28,040 $104,587,702 51.00% 

Total Ukraine 28,040 $104,587,702

Uzbekistan O`z-MARD Uzbekistan Micro-en 3,188 $701,033 57.00% 

WOCCU World Council of Credit 1,941 $2,227,773 44.00% Total Uzbekistan 5,129 $2,928,806

TOTAL EUROPE & EURASIA 218,526 $328,318,215

LAC Bolivia WOCCU/Bolivia 24,032 $51,663,247 46.00% 

Total Bolivia 24,032 $51,663,247

Brazil Banco ABN AMRO 3,260 $1,426,825 41.99% 

Total Brazil 3,260 $1,426,825

Colombia Actuar Quindio/Colombia 1,117 $895,228 57.51% 

AGAPE ASOCIACION GENERA 8,862 $1,014,376 88.00% Asociacion de Mujeres de la Guaj 123 $86,808 81.00% COMFAMA/Colombia 452 $2,121 32.00% CONFIAR/Colombia 28,447 $36,784,027 28.44% COOMULTRASAN/Colombia 30,116 $42,476,380 74.89% COOTRADEPMETA/Colombia 4,244 $6,036,913 65.38% CORPORACION ACCION POR 13,644 $13,390,000 57.00% Corporacion Accion Por Bolivar A 757 $1,059,348 89.00% Corporacion Actuar por Atlantico 257 $333,851 89.00% 
Corporacion Microempresas de A 8,861 $6,791,692 46.00% 

Corporacion Sinergia y Desarrollo 185 $175,087 37.00% Corporacion Universitaria del Car 158 $179,234 56.50% CREAR Cooperativa Nacional de 2,035 $5,543,000 70.00% CrediFlores/Colombia 3,775 $3,822,068 96.60% FENALCO ATLANTICO/Colom 64 $38,523 65.00% FINAMERICA/Colombia 30,142 $24,681,739 48.99% Fundacion del Alto Magdalena/Co 481 $481,501 62.00% Fundacion Mario Santo Domingo 12,896 $10,595,827 71.00% Fundacion Mundo Mujer/Colomb 86,846 $29,848,822 71.90% Fundacion San Isidro/Colombia 456 $167,510 55.00% Fundacion Social de Uniban Fund 1,371 $485,694 33.28% John F. Kennedy (COOMULDES 8,836 $10,718,658 66.90% OLC Oportunidada Latinoamerica 10,951 $1,421,529 63.16% Total Columbia 255,076 $197,029,936

Ecuador Banco Procredit Sociedad Financi 19,971 $32,517,241 39.10% 

BANCO SOLIDARIO S.A./Ecuad 60,385 $95,077,416 44.20% BG Banco de Guayaquil/Ecuador 267 $252,960 44.90% Cooperativa de Ahorro y Credito C 2,969 $9,737,290 42.30% Cooperativa de Ahorro Y Credito 35 $33,485 39.40% Cooperativa de Ahorro Y Credito 2,022 $2,818,784 49.50% Cooperativa de Ahorro Y Credito 4,129 $9,018,161 54.60% Cooperativa de Ahorro Y Credito 1,360 $1,371,030 39.80% CREDIFE Banco Del Pinchincha/ 34,477 $45,051,460 52.60% FINCA Sociedad Financiera/Ecua 42,676 $13,179,000 90.00% Mision Alianza de Noruega/Ecuad 9,295 $4,496,016 48.70% WOCCU/Ecuador 56,026 $91,803,608 47.00% Total Ecuador 233,612 $305,356,451

El Salvador ACCOVI DE R.L. Cooperativa de 2,283 $5,945,733 71.52% 

AMC de R.L. Sociedad cooperativ 7,412 $4,953,481 62.95% ASEI Asociacion Salvadorena de 5,192 $676,209 84.18% BANSAL Banco Salvadoreno/El S 4,688 $6,102,887 79.99% ENLACE CRS/El Salvador 12,490 $2,186,649 82.00% Financiera Calpia, S.A./El Salvado 58,567 $78,124,249 69.51% INTEGRAL Apoyo Integral, S.A. 18,840 $14,154,259 73.04% Total El Salvador 109,472 $112,143,467
Guatemala AGUDESA Asociacion Guatemal 3,448 $971,405 70.00% 

Banrural 5 $23,625 20.00% Genesis Empresarial/Guatemala 13,842 $18,652,448 67.89% Total Guatemala 17,295 $19,647,478

Haiti ACLAM/World Concern/Haiti 6,914 $451,360 93.00% 

ACME/Haiti 6,425 $3,386,402 67.00% BUH Banque de l Union Haitienn 2,742 $2,674,149 80.00% 1FINCA/Haiti 8,029 $687,201 99.00% FONDESPOIR/Haiti 3,193 $675,676 68.00% Fonkoze Fondasyon Kole Zepol/H 5,297 $963,429 98.00% Sogesol/Haiti 8,208 $5,491,420 60.00% Total Haiti 40,808 $14,329,637

Honduras Aval Card/Honduras 2,004 $1,353,366 0.00% 

Total Honduras 2,004 $1,353,366

Jamaica JNBS Jamaica 9,436 $2,748,810 72.97% 

Total Jamaica 9,436 $2,748,810

Mexico ADMIC/Mexico 11,760 $3,914,723 75.22% 

FINCA MEXICO 22,374 $5,394,215 95.00% FinComun/Mexico 25,300 $15,102,965 60.00% Promujer/Mexico 11,063 $1,229,798 100.00% WOCCU/Mexico 550,619 $598,241,338 59.69% 

Total Mexico 621,116 $623,883,039

Nicaragua FAMA 31,672 $16,224,987 75.59% 

WOCCU Nicaragua 9,995 $4,038,632 61.00% 

Total Nicaragua 41,667 $20,263,619

Peru Caja Rural San Martin/Peru 14,294 $21,898,989 50.00% 

COPEME Consorcio de organizac 222,273 $159,260,050 59.58% CP Caritas del Peru/Peru 15,671 $2,114,382 85.00% Solucion Financiera de Credito de 3,488 $4,567,938 47.96% Total Peru 255,726 $187,841,359

Trinidad Royal Bank/Trinidad 2 $13,333 0.00% 

Total Trinidad 2 $13,333

TOTAL LAC 1,613,506 $1,537,700,567

NEAR EAST Afghanistan MISFA Microfinance 51,139 $5,266,757 88.00% 

The First Microfinance 2,111 $2,096,348 13.03% 

Total Afghanistan 53,250 $7,363,105
Egypt ABA Alexandria Business Assoc. 37,173 $9,059,596 44.59% 

ASBA Assiut Business Assoc. 16,550 $416,099 100.00% DBAC Dakahleya Bus Assoc. for 32,571 $6,334,692 50.00% ESED Egyptian Sm Enter. Dev. F 48,270 $9,725,380 41.00% LEAD The Egyptian Foundation f 12,730 $1,099,880 87.00% NSBA North Sinai Business Asso 812 $108,853 63.30% SBACD Sharkia Bus Assoc. for C 19,449 $3,470,408 65.00% SEDAP Small Enter. Dev Assoc. P 6,827 $1,394,726 68.00% SOHAG / SEB 601 $341,507 20.00% Total Egypt 174,983 $31,951,141

Jordan AMC Ahli Microfinancing Compa 1,269 $3,249,431 31.28% 

Enhanced Productivity Program/Jo 2,951 $4,388,713 44.00% MEMCO Middle East Micro Cred 11,870 $3,699,925 98.07% MFW Microfund for Women (form 8,344 $3,829,219 88.18% Tamweelcom Jordan Micro Credit 24,434 $15,167,288

Morocco Al Amana/Morocco 160,610 $49,417,520 56.00% 

Al Karama Association Al Karam 4,119 $659,254 92.00% AMSSF Association Marocaine d 9,301 $1,727,121 86.00% ATIL Association Tetouanaise de 1,444 $398,871 59.00% FONDEP Fondation pour le Deve 20,485 $3,809,382 66.50% Foundation Zakoura/Morocco 174,480 $25,210,120 97.00% INMAA Institution Marocaine d`A 4,897 $870,365 52.00% Total Morocco 375,336 $82,092,633

West Bank /Gaza FATEN Palestine for Credit & De 3,319 $2,383,899 99.00% 

Total West Bank/Gaza 3,319 $2,383,899

TOTAL NEAR 631,322 $138,958,066

GRAND TOTAL 3,781,883 $2,361,699,625
Region Country Institution Savings US$ Savers Rural Clients 

%

Sustainability Level

AFR Angola Development Workshop/Angola $32,294 1,007 100.00% Planned

NVB NovoBanco S.A.R.L./Angola $757,746 3,829 0.00% Operational

Benin CBDIBA Centre Beninois pour le Developpm $437,116 14,223 100.00% Planned

CONVERGENCE 2000/Benin $18,563,049 4,155 85.00% Planned

CRS/Benin $127,337 6,087 100.00% Financial

FECECAM Federation des Caisses d`Epargn $56,490,422 536,920 35.00% Planned

GRAPAD/CASFIP Groupe de Recherche et d $379,120 6,467 81.00% Operational

MDB Mutuelle pour le Developpement a la B $798,564 2,768 20.00% Financial

PADME BENIN Association pour la Promoti $5,689,765 48,536 15.00% Financial

PAPME Agence pour la Promotion et l`Appu $8,494,715 22,875 17.87% Financial

DR Congo FINCA/DR Congo $858,271 13,220 0.00% Financial

IRM Innovative Resources Management/DR $4,893 199 0.00% Planned

Eritrea REU Rural Enterprise Unit/Eritrea $0 0 49.00% Financial

Ethiopia WISDOM/Ethiopia $651,461 19,912 70.00% Financial

Ghana Akoti Rural Bank, Limited/Ghana $17,593 1,632 100.00% Planned

APED Association of Productive Entrepreneu $193,662 5,010 88.00% Planned

Cal Merchant Bank/Ghana $0 0 0.00% Financial

Ecobank/Ghana $0 0 0.00% Financial

Sikaman Savings and Loan/Ghana $2,854,239 19,430 0.00% Operational

Sinapi Aba Trust $0 0 65.00% Planned

Guinea Enrma Expanded Naturel Ressources Manage $37,211 9,415 100.00% Planned

Kenya Co-op Bank Co-operative Bank of Kenya Lim $18,491 90,936 80.00% Financial

KBL K-Rep Bank Limited/Kenya $0 0 0.00% Financial

SAGA SAGA Thrift and Enterprise Promotio $113,147 5,675 100.00% Planned

Malawi OIBM Opportunity International Bank of Ma $2,710,000 19,308 86.00% Planned

Mali Kafo Jiginew $19,281,033 186,142 100.00% Financial

Nyesigiso $11,176,405 113,643 28.00% Operational

Soro Yiriwaso/Mali $215,998 13,726 80.45% Planned

Mozambique NovoBanco/Mozambique $3,228,687 22,954 0.00% Operational

Tchuma/Mozambique $48,519 2,506 6.35% Financial

Nigeria LAPO- Lift Above Poverty Organization/Nig $763,883 29,812 45.00% Financial

Rwanda WOCCU/Rwanda $41,000,000 398,799 80.00% Financial

Senegal CARITAS/Thies $33,158 2,137 90.00% Operational

CBAO/Senegal $0 0 0.00% Financial

FADECBA Federation des Associations de D $59,033 845 90.00% Planned

South Africa FINCA Foundation for International Commu $58,000 58,000 80.00% Planned

Teba Bank/South Africa $0 105,667 100.00% Financial

Sudan SUMI Sudan Microfinance Institution/Sudan $22,656 1,206 100.00% Planned

Uganda FINCA Uganda Foundation for International $2,505,000 45,432 90.00% Financial

FOCCAS Foundation for Credit and Commun $280,640 16,443 100.00% Planned

FTCU Feed The Children Uganda/Uganda $311,612 11,865 86.00% Planned

FUL Faulu Uganda Ltd./Uganda $0 0 0.00% Planned

MED-Net Microenterprise Development Netw $309,393 15,853 64.00% Planned

Teso Rural Development Trust/Uganda $84,519 11,558 100.00% Planned

UMU Uganda Microfinance Union/Uganda $3,216,979 61,538 69.00% Financial

U-TRUST UGANDA FINANCE TRUST LI $4,000,514 98,003 78.62% Operational

Zimbabwe Kingdom Bank/Zimbabwe $0 0 0.00% Planned

SHDF (SCORE) Self Help Development Fou $228,569 6,881 80.28% Financial

Zambuko Trust Zambuko Trust/Zimbabwe $71,717 10,252 15.00% Operational

TOTAL AFRICA $186,125,411 2,044,866

ASIA Bangladesh CARE Bangladesh $288,103 18,408 0.00% Planned

Dhaka Bank/Bangladesh $0 0 0.00% Financial

ANNEX G

Microfinance Savings data, Location of Clients and Sustainability, 2004
MACH Caritas/Bangladesh $24,861 4,972 100.00% Planned

National Bank/Bangladesh $0 0 0.00% Financial

Prime Bank/Bangladesh $0 0 0.00% Financial

East Timor Casphor Technical Services/East Timor $160,306 7,038 100.00% Planned

CCF Christian Children`s Fund/East Timor $89,223 3,223 90.00% Planned

CRS Catholic Relief Services/East Timor $12,344 1,378 45.00% Planned

Oportunidade Timor Lorosa`e /East Timor $97,251 2,874 48.26% Planned

India Cashpor/India $0 0 100.00% Planned

SEWA $12,202,270 210,763 42.00% Planned

Indonesia Bank NISP/Indonesia $0 0 0.00% Financial

Mongolia Mercy Corps/XAC Bank/Mongolia $13,300,506 39,166 54.74% Financial

Nepal NUBL Nirdhan Utthan Bank, Ltd./Nepal $1,309,714 57,582 100.00% Financial

Pakistan CWCD Centre for Women Cooperative Deve $0 0 0.00% Planned

KB Khushhalibank/Pakistan $0 0 62.00% Planned

NLCL Network Leasing Corporation Limited $0 0 10.00% Financial

PRSP Punjab Rural Support Program/Pakista $0 0 100.00% Operational

RCDS Rural Community Development Socie $0 1,394 78.00% Planned

Philippines Bangko Kabayan/Philippines $456,947 19,474 85.00% Planned

Bangko Mabuhay/Philippines $253,699 8,263 62.00% Planned

Bangko Santiago de Libon/Philippines $9,865 9,865 60.00% Financial

Bank of Florida/Philippines $503,361 11,377 90.00% Financial

Bank Victorias/Philippines $53,090 1,452 77.00% Operational

Bukidnon Cooperative Bank/Philippines $366,867 23,053 85.00% Financial

Century Rural Bank/Philippines $159,062 10,154 67.00% Financial

CEV Community Economic Ventures, Inc/Ph $191,295 15,245 85.00% Operational

Cooperative Bank of Misamis Oriental, Inc./P $569,809 36,250 10.00% Financial

Country Bank/Philippines $478,054 28,080 60.00% Operational

FICO First Isabela Cooperative Bank/Philipp $190,302 4,334 80.00% Financial

First Macro Bank/Philippines $406,298 591 45.00% Financial

MRB Maranao Rural Bank/Philippines $253,604 5,068 88.00% Financial

Rang-Ay Bank/Philippines $177,963 3,916 34.00% Planned

RISE Responsible Investments for Solidarity $1,509,615 47,919 100.00% Financial

Rural Bank of Bogo/Philippines $92,835 4,163 56.00% Planned

Rural Bank of Cantilan/Philippines $790,987 46,497 98.00% Financial

Rural Bank of Cotabato/Philippines $49,377 1,480 98.00% Financial

Rural Bank of Datu Paglas/Philippines $10,076 407 98.00% Operational

Rural Bank of Digos/Philippines $456,947 19,474 85.00% Planned

Rural Bank of Dipolog/Philippines $761,433 9,379 100.00% Financial

Rural Bank of Dulag/Philippines $247,335 9,708 78.00% Financial

Rural Bank of Isulan/Philippines $250,951 14,791 69.00% Planned

Rural Bank of Kapatagan Valley/Philippines $631,670 32,913 80.00% Financial

Rural Bank of Labrador/Philippines $55,289 1,327 84.00% Planned

Rural Bank of Lebak/Philippines $124,482 5,071 62.00% Financial

Rural Bank of Mabitac/Philippines $89,365 2,415 63.00% Financial

Rural Bank of Montevista/Philippines $588,555 34,085 69.00% Financial

Rural Bank of Oroquieta/Philippines $142,307 4,932 78.00% Financial

Rural Bank of Pagbilao/Philippines $121,954 3,840 85.00% Planned

Rural Bank of Santo Tomas/Philippines $192,947 10,453 100.00% Financial

Rural Bank of Siam, Inc./Philippines $57,772 2,720 68.00% Planned

Rural Bank of Tacurong/Philippines $149,225 9,000 60.00% Financial

Rural Bank of Tagum/Philippines $78,864 3,438 80.00% Financial

Rural Bank of Talisayan/Philippines $421,777 21,278 60.00% Financial

Rural Green Bank of Caraga/Philippines $3,696,878 154,471 87.00% Financial

Saranggani Rural Bank/Philippines $30,605 1,888 6.00% Planned

WOCCU/CUES-Phils. World Council of Cre $600,992 42,594 80.00% Financial

WV World Vision Relief and Development/W $191,295 15,245 85.00% Operational

TOTAL ASIA $42,898,328 1,023,408

EE Albania PSHM Partneri Shqiptar ne Mikrokredi/Alban $0 0 25.02% Financial

Armenia ANIV Foundation/Armenia $0 0 100.00% Operational
ARM ECLOF Armenian Ecumenical Church $0 0 66.50% Financial

FINCA/Armenia $0 0 0.00% Financial

MDF Microenterprise Development Fund-Ka $20,616 1,237 20.00% Financial

SEF Small Enterprise Fund International Ltd. $0 0 68.00% Planned

UMCOR AREGAK Microcredit Program/Ar $0 0 69.00% Financial

Azerbaijan CredAgro LLC CredAgro Non Banking Cred $0 0 84.76% Operational

Foundation for International Community Ass $0 0 45.00% Planned

SC Save the Children Federation, US, Azerba $0 0 90.00% Financial

Bosnia CHF Communities, Habit, Finance (Cooperat $0 0 73.33% Operational

MIKROFIN/Bosnia $0 0 58.59% Financial

Bulgaria CRS Catholic Relief Services/Bulgaria $436,137 4,643 7.62% Planned

NACHALA Cooperative/Bulgaria $0 0 0.00% Financial

United Bulgarian Bank/Bulgaria $0 0 0.00% Financial

Georgia Constanta Foundation/Georgia $0 0 38.92% Operational

Crystal Fund/Georgia $0 0 12.00% Financial

GRDF Georgia Rural Development Fund/Geo $0 0 100.00% Operational

SBDF Small Business Development Foundat $0 0 100.00% Operational

WV/Georgia $0 0 60.00% Planned

Kazakhstan EBRD/KSBP European Bank for Reconstruc $0 0 .08% Financial

Kyrgyzstan Credit Union "Kairat-Bol"/Kyrgyzstan $74,738 336 96.00% Financial

Credit Union "Kopilka777"/Kyrgyzstan $19,757 118 0.00% Financial

Credit Union "Manzini-Invest-Credit"/Kyrgy $13,792 133 88.70% Financial

Credit Union "Zabema"/Kyrgyzstan $10,645 57 25.00% Operational

Credit Unioni "ABN"/Kyrgyzstan $63,591 458 99.00% Financial

FINCA International/Kyrgyzstan $0 0 40.00% Financial

Micro Lending Company "Kyrgyzaiyltrust`/K $13,165 1,220 100.00% Financial

Public Fund Micro Lending Agency/Kyrgyzs $0 0 14.30% Operational

Moldova Moldova AgrolndBank/Moldova $172,019,364 48,319 0.00% Financial

Victoriabank/Moldova $100,471,669 103,666 39.50% Operational

Romania CHF CHF International Romania/Romania $0 0 29.60% Planned

Russia ACDI/VOCA/Russia $0 0 2.00% Operational

Center-Invest Bank/Russia $0 0 0.00% Financial

FINCA/Tomsk/Russia $0 0 20.00% Operational

Russia Banker`s House/Russia $0 0 0.00% Financial

Serbia Opportunity International/Serbia $3,788 20 25.00% Operational

Tajikistan FINCA/Tajikistan $4,637 312 61.00% Planned

Ukraine UMLP Ukraine Micro Lending Program/Ukr $0 0 1.30% Financial

Uzbekistan O`z-MARD Uzbekistan Micro-entrepreneur P $0 0 0.00% Financial

WOCCU World Council of Credit Unions, In $1,928,971 1,931 95.00% Financial

TOTAL E&E $275,080,870 162,450

LAC Bolivia WOCCU/Bolivia $55,678,173 114,509 65.00% Financial

Brazil Banco ABN AMRO Real S.A./Brazil $0 0 0.00% Planned

Colombia Actuar Quindio/Colombia $0 0 0.00% Financial

AGAPE ASOCIACION GENERAL PARA A $0 0 5.00% Planned

Asociacion de Mujeres de la Guajira/Colomb $49,017 638 31.00% Planned

COMFAMA/Colombia $0 0 16.00% Financial

CONFIAR/Colombia $30,007,200 62,895 0.00% Financial

COOMULTRASAN/Colombia $41,471,040 90,385 0.00% Financial

COOTRADEPMETA/Colombia $4,086,257 12,834 0.00% Financial

CORPORACIÃ“N ACCIÃ“N POR ANTIOQ $0 0 2.00% Financial

Corporacion Accion Por Bolivar Actuar Fami $0 0 6.00% Financial

Corporacion Actuar por Atlantico Actuar Fam $0 1,204 27.00% Operational

Corporacion Microempresas de Antioquia/Co $0 0 0.00% Financial

Corporacion Sinergia y Desarrollo/Colombia $0 0 66.00% Planned

Corporacion Universitaria del Caribe/Colomb $0 0 75.00% Planned

CREAR Cooperativa Nacional de Ahorro y C $5,071,000 35,000 1.00% Financial

CrediFlores/Colombia $2,468,894 6,468 0.00% Financial

FENALCO ATLANTICO/Colombia $0 0 0.00% Financial

FINAMERICA/Colombia $16,268,089 1,673 0.00% Financial
Fundacion del Alto Magdalena/Colombia $0 0 54.00% Financial

Fundacion Mario Santo Domingo $0 0 7.00% Operational

Fundacion Mundo Mujer/Colombia $0 0 4.00% Financial

Fundacion San Isidro/Colombia $0 456 28.00% Planned

Fundacion Social de Uniban Fundauniban/Co $0 0 68.14% Financial

John F. Kennedy (COOMULDESA)/Colomb $10,044,221 16,519 0.00% Financial

OLC Oportunidada Latinoamerica Colombia/ $209,000 10,951 0.00% Planned

Ecuador Banco Procredit Sociedad Financiera Ecuator $0 0 30.00% Financial

BANCO SOLIDARIO S.A./Ecuador $24,020,681 77,061 55.00% Financial

BG Banco de Guayaquil/Ecuador $38 16 20.00% Planned

Cooperativa de Ahorro y Credito CACPECO $10,970,813 36,589 38.00% Financial

Cooperativa de Ahorro Y Credito Chone, LTD $4,315,557 13,738 40.00% Financial

Cooperativa de Ahorro Y Credito Cooprogres $16,551,675 45,251 40.00% Financial

Cooperativa de Ahorro Y Credito Riobamba, $16,693,613 27,814 70.00% Financial

Cooperativa de Ahorro Y Credito Tulcan, LT $6,764,727 21,331 70.00% Operational

CREDIFE Banco Del Pinchincha/Ecuador $0 0 25.00% Financial

FINCA Sociedad Financiera/Ecuador $2,670,952 42,676 80.00% Financial

Mision Alianza de Noruega/Ecuador $0 0 0.00% Financial

WOCCU/Ecuador $88,214,134 233,295 71.00% Financial

El Salvador ACCOVI DE R.L. Cooperativa de ahorro y c $172,642 2,083 95.88% Planned

AMC de R.L. Sociedad cooperativa de ahorro $0 0 100.00% Financial

ASEI Asociacion Salvadorena de extensionis $0 0 60.51% Operational

BANSAL Banco Salvadoreno/El Salvador $222,404 3,036 64.76% Financial

ENLACE CRS/El Salvador $324,750 12,490 19.00% Financial

Financiera Calpia, S.A./El Salvador $51,918,496 42,298 44.29% Financial

INTEGRAL Apoyo Integral, S.A. de C.V./El $0 0 62.85% Financial

Guatemala AGUDESA Asociacion Guatemalteca para el $0 0 85.00% Financial

Banrural $0 0 0.00% Financial

Genesis Empresarial/Guatemala $0 0 41.11% Financial

Haiti ACLAM/World Concern/Haiti $116,282 6,914 81.00% Operational

ACME/Haiti $0 0 0.00% Financial

BUH Banque de l Union Haitienne/Haiti $0 0 10.00% Planned

FINCA/Haiti $267,241 8,097 80.00% Planned

FONDESPOIR/Haiti $66,505 3,193 30.00% Financial

Fonkoze Fondasyon Kole Zepol/Haiti $431,407 8,760 100.00% Planned

Sogesol Sogesol/Haiti $0 0 0.00% Financial

Honduras Aval Card/Honduras $0 0 0.00% Financial

Jamaica JNBS Jamaica National Building Society/Jam $0 0 27.86% Financial

Mexico ADMIC/Mexico $0 0 0.00% Financial

FINCA MEXICO FUNDACION INTEGRAL $0 0 100.00% Operational

FinComun/Mexico $942,709 44,799 0.00% Operational

Promujer/Mexico $0 13,172 100.00% Planned

WOCCU/Mexico $705,489,632 803,820 .69% Financial

Nicaragua FAMA/Nicaragua $0 0 0.00% Financial

WOCCU/Nicaragua $4,740,312 30,723 25.00% Financial

Peru Caja Rural San Martin/Peru $23,142,729 32,972 40.00% Financial

COPEME Consorcio de organizaciones priva $139,283,139 224,058 25.00% Financial

CP CÃ¡ritas del PerÃo/Peru $0 0 5.84% Operational

Solucion Financiera de Credito del Peru/Peru $0 0 0.00% Financial

Trinidad Royal Bank/Trinidad $0 0 0.00% Financial

$1,262,673,329 2,087,718

NEAR Afghanistan MISFA Microfinance Investment Support Fa $620,643 67,734 0.00% Planned

EAST The First Microfinance Bank of Afghanistan/ $3,167,140 0 0.00% Planned

Egypt ABA Alexandria Business Assoc. $0 0 27.00% Financial

ASBA Assiut Business Assoc. $0 0 100.00% Planned

DBAC Dakahleya Bus Assoc. for Investors C $0 0 68.00% Financial

ESED Egyptian Sm Enter. Dev. Found.. $0 0 25.00% Financial

LEAD The Egyptian Foundation for Lending $0 0 34.00% Planned

NSBA North Sinai Business Assocation/Egyp $0 0 25.00% Planned
SBACD Sharkia Bus Assoc. for Comm. Dev. $0 0 45.00% Operational

SEDAP Small Enter. Dev Assoc. Port Said $0 0 0.00% Financial

SOHAG / SEB $0 0 25.00% Financial

Jordan AMC Ahli Microfinancing Company/Jordan $0 0 0.00% Financial

MEMCO Middle East Micro Credit Co./Jorda $0 0 96.00% Financial

MFW Microfund for Women (formerly JWD $0 0 4.00% Financial

Tamweelcom Jordan Micro Credit Company/ $0 0 44.72% Financial

Morocco Al Amana/Morocco $0 0 10.00% Financial

Al Karama Association Al Karama/Morocco $0 0 0.00% Financial

AMSSF Association Marocaine de Solidarite $0 0 56.00% Financial

ATIL Association Tetouanaise de l`Initiative $0 0 .10% Planned

FONDEP Fondation pour le Developpment L $0 0 87.00% Financial

Foundation Zakoura/Morocco $0 0 40.00% Financial

INMAA Institution Marocaine d`Appui a la M $0 0 70.00% Planned

West Bank FATEN Palestine for Credit & Development/ $39,403 976 15.00% Planned

TOTAL NEAR EAST $3,827,186 68,710

GRAND TOTAL $1,770,605,123 5,387,152
Region Country Institution Portfolio US$ PL Amount US$ PL Rating

AFRICA Africa AFRICAP/Africa Region

Africa MicroRate Africa/Africa Region

Angola Development Workshop/Angola 177,965 177,965 100.00%

Angola NVB NovoBanco S.A.R.L./Angola 1,211,818 444 .04%

Benin CBDIBA Centre Beninois pour le Develo 824,257 750,073 91.00%

Benin CONVERGENCE 2000/Benin 222,756 969 .44%

Benin CRS/Benin 327,823 327,823 100.00%

Benin FECECAM Federation des Caisses d`Epa 49,549,774 17,342,421 35.00%

Benin GRAPAD/CASFIP Groupe de Recherche 482,191 433,972 90.00%

Benin MDB Mutuelle pour le Developpement a 974,742 36,960 3.79%

Benin PADME BENIN Association pour la Prom 42,748,957 2,204,044 5.16%

Benin PAPME Agence pour la Promotion et l`A 41,613,651 2,934,549 7.05%

Central Afric AWF African Wildlife Foundation/Central Africa Regional

DR Congo FINCA/DR Congo 1,297,296 1,297,296 100.00%

DR Congo IRM Innovative Resources Management/ 3,451 3,451 100.00%

Eritrea REU Rural Enterprise Unit/Eritrea 2,064,970

Ethiopia WISDOM/Ethiopia 2,163,780 1,562,282 72.20%

Ghana Akoti Rural Bank, Limited/Ghana 97,830 97,830 100.00%

Ghana APED Association of Productive Entrepr 346,723 322,452 93.00%

Ghana Cal Merchant Bank/Ghana 40,987

Ghana Ecobank/Ghana 17,766

Ghana Sikaman Savings and Loan/Ghana 4,731,472

Ghana Sinapi Aba Trust 4,285,704 862,300 20.12%

Guinea Enrma Expanded Naturel Ressources Ma 189,477 180,003 95.00%

Kenya CDA Coast Development Authority/Kenya

Kenya Co-op Bank Co-operative Bank of Kenya 5,000,000 5,000,000 100.00%

Kenya KBL K-Rep Bank Limited/Kenya 126,749

Kenya SAGA Thrift and Enterprise Promotion, L 117,334 58,652 49.99%

Malawi Chemonics International, Inc./Malawi

Malawi OIBM Opportunity International Bank of 246,138 123,069 50.00%

Mali Kafo Jiginew 24,009,890 18,000,000 74.97%

Mali Nyesigiso 9,500,151 2,470,039 26.00%

Mali Soro Yiriwaso/Mali 1,081,114 1,081,114 100.00%

Mozambiqu NovoBanco/Mozambique 6,223,208 697,753 11.21%

Mozambiqu Tchuma/Mozambique 2,215,064 534,557 24.13%

Nigeria ABN AfriBank Nigeria PLC/Nigeria

Nigeria EBN EcoBank Nigeria Plc/Nigeria

Nigeria FBN First Bank of Nigeria Plc/Nigeria

Nigeria LAPO- Lift Above Poverty Organization/ 1,881,139 1,881,139 100.00%

Nigeria NAL NAL Bank Plc/Nigeria

Nigeria PB Prudent Bank Plc/Nigeria

Nigeria PBL Platinum Bank Limited/Nigeria

Nigeria UBA United Bank for Africa/Nigeria

Nigeria UBN Union Bank of Nigeria/Nigeria

Nigeria ZB Zenith Bank Plc/Nigeria

Rwanda WOCCU/Rwanda 35,000,000 15,134,274 43.24%

ANNEX H

Poverty Lending Ratings by Location of Institution, 2004

H-1
Senegal CARITAS/Thies 463,658 115,914 25.00%

Senegal CBAO/Senegal 69,096

Senegal Chemonics International Inc. - DynaEntreprises Project/Senegal

Senegal FADECBA Federation des Associations d 84,397 75,957 90.00%

South FINCA Foundation for International Com 69,000 46,000 66.67%

South Teba Bank/South Africa

Sudan SUMI Sudan Microfinance Institution/Su 99,927 58,697 58.74%

Uganda FINCA Uganda Foundation for Internatio 6,082,000 4,962,000 81.59%

Uganda FOCCAS Foundation for Credit and Com 1,171,512 702,907 60.00%

Uganda FTCU Feed The Children Uganda/Ugand 896,573

Uganda FUL Faulu Uganda Ltd./Uganda 3,430,558

Uganda MED-Net Microenterprise Development 2,405,608 1,360,480 56.55%

Uganda Teso Rural Development Trust/Uganda 528,195 300,074 56.81%

Uganda UMU Uganda Microfinance Union/Ugan 10,780,753 4,998,692 46.37%

Uganda U-TRUST UGANDA FINANCE TRUST 6,889,402 2,480,185 36.00%

Zimbabwe Kingdom Bank/Zimbabwe 616,434 616,434 100.00%

Zimbabwe SHDF (SCORE) Self Help Development 632,444 357,707 56.56%

Zimbabwe Zambuko Trust Zambuko Trust/Zimbabw 479,733 450,949 94.00%

TOTAL AFRICA 273,473,467 90,041,426

ASIA Bangladesh CARE Bangladesh 1,030,155 1,030,155 100.00%

Bangladesh Dhaka Bank/Bangladesh 70,055

Bangladesh MACH Caritas/Bangladesh 282,894 247,998 87.66%

Bangladesh National Bank/Bangladesh 4,310

Bangladesh Prime Bank/Bangladesh 75,920

East Timor Casphor Technical Services/East Timor 427,000 427,000 100.00%

East Timor CCF Christian Children`s Fund/East Tim 107,155 107,155 100.00%

East Timor CRS Catholic Relief Services/East Timor 63,126 63,126 100.00%

East Timor Oportunidade Timor Lorosa`e /East Timo 199,225 119,535 60.00%

India Cashpor/India 3,325,102 3,325,102 100.00%

India SEWA 4,209,630 871,529 20.70%

Indonesia Bank NISP/Indonesia 168,724

Mongolia Mercy Corps/XAC Bank/Mongolia 17,048,726 1,557,472 9.14%

Nepal NUBL Nirdhan Utthan Bank, Ltd./Nepal 4,664,305 4,388,493 94.09%

Pakistan CWCD Centre for Women Cooperative D 71,084 28,318 39.84%

Pakistan KB Khushhalibank/Pakistan 23,653,709 23,331,680 98.64%

Pakistan NLCL Network Leasing Corporation Lim 1,704,021 1,704,021 100.00%

Pakistan PRSP Punjab Rural Support Program/Pak 1,090,034 1,090,034 100.00%

Pakistan RCDS Rural Community Development S 245,840 245,840 100.00%

Philippines Bangko Kabayan/Philippines 82,360 98,865 120.04%

Philippines Bangko Mabuhay/Philippines 101,043 75,400 74.62%

Philippines Bangko Santiago de Libon/Philippines 424,857 76,927 18.11%

Philippines Bank of Florida/Philippines 46,280 1,302 2.81%

Philippines Bank Victorias/Philippines 150,050 53,160 35.43%

Philippines Bukidnon Cooperative Bank/Philippines 233,703 170,643 73.02%

Philippines Century Rural Bank/Philippines 64,163 19,667 30.65%

Philippines CEV Community Economic Ventures, In 1,014,413 1,014,413 100.00%

Philippines Cooperative Bank of Misamis Oriental, In 405,759 106,007 26.13%

Philippines Country Bank/Philippines 78,332 30,813 39.34%

H-2
Philippines FICO First Isabela Cooperative Bank/Phi 340,897 33,475 9.82%

Philippines First Macro Bank/Philippines 158,534 52,736 33.26%

Philippines MRB Maranao Rural Bank/Philippines 438,605 244,822 55.82%

Philippines Rang-Ay Bank/Philippines 89,311 74,200 83.08%

Philippines RISE Responsible Investments for Solida 3,997,676 3,997,676 100.00%

Philippines Rural Bank of Bogo/Philippines 20,686 10,805 52.23%

Philippines Rural Bank of Cantilan/Philippines 584,785 350,778 59.98%

Philippines Rural Bank of Cotabato/Philippines 95,606 33,777 35.33%

Philippines Rural Bank of Datu Paglas/Philippines 35,192 10,753 30.56%

Philippines Rural Bank of Digos/Philippines 116,112 98,865 85.15%

Philippines Rural Bank of Dipolog/Philippines 112,672 39,657 35.20%

Philippines Rural Bank of Dulag/Philippines 319,444 157,965 49.45%

Philippines Rural Bank of Isulan/Philippines 51,470 990 1.92%

Philippines Rural Bank of Kapatagan Valley/Philippi 426,678 21,108 4.95%

Philippines Rural Bank of Labrador/Philippines 11,183 5,156 46.11%

Philippines Rural Bank of Lebak/Philippines 109,305 54,857 50.19%

Philippines Rural Bank of Mabitac/Philippines 239,788 30,139 12.57%

Philippines Rural Bank of Montevista/Philippines 702,550 683,920 97.35%

Philippines Rural Bank of Oroquieta/Philippines 65,050 10,729 16.49%

Philippines Rural Bank of Pagbilao/Philippines 46,280 8,969 19.38%

Philippines Rural Bank of Santo Tomas/Philippines 149,154 55,522 37.22%

Philippines Rural Bank of Siam, Inc./Philippines 41,562 1,352 3.25%

Philippines Rural Bank of Tacurong/Philippines 263,866 161,873 61.35%

Philippines Rural Bank of Tagum/Philippines 51,596 22,302 43.22%

Philippines Rural Bank of Talisayan/Philippines 179,897 4,079 2.27%

Philippines Rural Green Bank of Caraga/Philippines 1,332,560 340,684 25.57%

Philippines Saranggani Rural Bank/Philippines 86,849 2,080 2.39%

Philippines WOCCU/CUES-Phils. World Council of 11,125,614 11,125,614 100.00%

Philippines WV World Vision Relief and Developme 1,014,413 1,014,413 100.00%

83,249,311 58,833,951

EE Albania PSHM Partneri Shqiptar ne Mikrokredi/A 6,446,672 642,762 9.97%

Armenia ANIV Foundation/Armenia 1,300,000

Armenia ARM ECLOF Armenian Ecumenical Chu 937,651 163,315 17.42%

Armenia DAI/Armenia

Armenia FINCA/Armenia 3,106,787 250,071 8.05%

Armenia MDF Microenterprise Development Fund 2,074,825 2,074,825 100.00%

Armenia SEF Small Enterprise Fund International 907,000 579,000 63.84%

Armenia UMCOR AREGAK Microcredit Program 5,746,570 4,671,758 81.30%

Azerbaijan CredAgro LLC CredAgro Non Banking C 3,828,000 135,283 3.53%

Azerbaijan Foundation for International Community 3,043,475 2,699,255 88.69%

Azerbaijan SC Save the Children Federation, US, Az 420,881 420,881 100.00%

Bosnia CHF Communities, Habit, Finance (Coop 3,657,223 3,329,723 91.05%

Bosnia MIKROFIN/Bosnia 25,925,991 1,841,574 7.10%

Bulgaria CRS Catholic Relief Services/Bulgaria 1,980,282 1,681,562 84.92%

Bulgaria NACHALA Cooperative/Bulgaria 4,443,954 486,175 10.94%

Total ASIA

H-3
Bulgaria United Bulgarian Bank/Bulgaria 46,000

Georgia Constanta Foundation/Georgia 4,950,935 2,870,000 57.97%

Georgia Crystal Fund/Georgia 810,665 486,399 60.00%

Georgia GRDF Georgia Rural Development Fund 2,204,768 102,000 4.63%

Georgia SBDF Small Business Development Foun 567,589 542,589 95.60%

Georgia WV/Georgia 1,280,777 995,000 77.69%

Kazakhstan EBRD/KSBP European Bank for Recons 72,076,000 14,481 .02%

Kyrgyzstan Credit Union "Kairat-Bol"/Kyrgyzstan 146,179 83,631 57.21%

Kyrgyzstan Credit Union "Kopilka777"/Kyrgyzstan 39,776 28,337 71.24%

Kyrgyzstan Credit Union "Manzini-Invest-Credit"/Ky 102,340 36,274 35.44%

Kyrgyzstan Credit Union "Zabema"/Kyrgyzstan 38,905 16,478 42.35%

Kyrgyzstan Credit Unioni "ABN"/Kyrgyzstan 334,464 113,533 33.94%

Kyrgyzstan FINCA International/Kyrgyzstan 8,886,191 5,598,300 63.00%

Kyrgyzstan Micro Lending Company "Kyrgyzaiyltrus 55,880 55,880 100.00%

Kyrgyzstan MSFF EBRD Micro and Small Finance F 11,303,285 1,902,827 16.83%

Kyrgyzstan Public Fund Micro Lending Agency/Kyrg 416,917 3,964 .95%

Moldova Moldova-AgroIndBank/Moldova 28,252,143 155,397 .55%

Moldova Moldova AgrolndBank/Moldova 87,913

Moldova Victoriabank/Moldova 11,966,141 170,993 1.43%

Romania CHF International Romania 5,143,059 283,628 5.51%

Russia ACDI/VOCA/Russia 1,972,884 75,000 3.80%

Russia Center-Invest Bank/Russia 35,484

Russia FINCA/Tomsk/Russia 1,238,660 1,000,000 80.73%

Russia Russia Banker`s House/Russia 7,759

Serbia Booz Allen Hamilton/Serbia

Serbia Opportunity International/Serbia 4,977,168 1,742,000 35.00%

Tajikistan FINCA/Tajikistan 40,514 40,514 100.00%

Ukraine UMLP Ukraine Micro Lending Program/ 104,587,702 3,092,753 2.96%

Uzbekistan O`z-MARD Uzbekistan Micro-entreprene 701,033 701,033 100.00%

Uzbekistan WOCCU World Council of Credit Union 2,227,773 464,747 20.86%

328,318,215 39,551,942

LAC Bolivia WOCCU/Bolivia 51,663,247 1,529,594 2.96%

Brazil Banco ABN AMRO Real S.A./Brazil 1,426,825 43,700 3.06%

Colombia Actuar Quindio/Colombia 895,228

Colombia AGAPE ASOCIACION GENERAL PAR 1,014,376 647,599 63.84%

Colombia Asociacion de Mujeres de la Guajira/Colo 86,808 86,012 99.08%

Colombia COMFAMA/Colombia 2,121 890 41.96%

Colombia CONFIAR/Colombia 36,784,027 1,305,140 3.55%

Colombia COOMULTRASAN/Colombia 42,476,380 430,461 1.01%

Colombia COOTRADEPMETA/Colombia 6,036,913 173,199 2.87%

Colombia CORPORACION ACCION POR ANTIO 13,390,000 1,700,000 12.70%

Colombia Corporacion Accion Por Bolivar Actuar F 1,059,348 367,199 34.66%

Colombia Corporacion Actuar por Atlantico Actuar 333,851 116,766 34.98%

Colombia Corporacion Microempresas de Antioquia 6,791,692 328,200 4.83%

Colombia Corporacion Sinergia y Desarrollo/Colom 175,087 175,087 100.00%

Colombia Corporacion Universitaria del Caribe/Col 179,234 45,880 25.60%

Colombia CREAR Cooperativa Nacional de Ahorro 5,543,000 3,776,000 68.12%

Colombia CrediFlores/Colombia 3,822,068 161,625 4.23%

Colombia FENALCO ATLANTICO/Colombia 38,523 5,707 14.81%

Colombia FINAMERICA/Colombia 24,681,739 883,243 3.58%

Colombia Fundacion del Alto Magdalena/Colombia 481,501 385,200 80.00%

Total EE

H-4
Colombia Fundacion Mario Santo Domingo 10,595,827 1,000,000 9.44%

Colombia Fundacion Mundo Mujer/Colombia 29,848,822 10,675 .04%

Colombia Fundacion San Isidro/Colombia 167,510 54,621 32.61%

Colombia Fundacion Social de Uniban Fundauniban 485,694 1,004 .21%

Colombia John F. Kennedy (COOMULDESA)/Colo 10,718,658 69,596 .65%

Colombia OLC Oportunidada Latinoamerica Colom 1,421,529 1,401,000 98.56%

Ecuador Banco Procredit Sociedad Financiera Ecu 32,517,241 230,482 .71%

Ecuador BANCO SOLIDARIO S.A./Ecuador 95,077,416

Ecuador BG Banco de Guayaquil/Ecuador 252,960

Ecuador Cooperativa de Ahorro y Credito CACPE 9,737,290 961 .01%

Ecuador Cooperativa de Ahorro Y Credito Chone, 33,485 1,609 4.81%

Ecuador Cooperativa de Ahorro Y Credito Coopro 2,818,784 1,856 .07%

Ecuador Cooperativa de Ahorro Y Credito Riobam 9,018,161 31,440 .35%

Ecuador Cooperativa de Ahorro Y Credito Tulcan 1,371,030 17,389 1.27%

Ecuador CREDIFE Banco Del Pinchincha/Ecuado 45,051,460

Ecuador FINCA Sociedad Financiera/Ecuador 13,179,000 13,179,000 100.00%

Ecuador Mision Alianza de Noruega/Ecuador 4,496,016 347,572 7.73%

Ecuador WOCCU/Ecuador 91,803,608 2,070,837 2.26%

El Salvador ACCOVI DE R.L. Cooperativa de ahorro 5,945,733 140,980 2.37%

El Salvador AMC de R.L. Sociedad cooperativa de ah 4,953,481 511,603 10.33%

El Salvador ASEI Asociacion Salvadorena de extensio 676,209 417,628 61.76%

El Salvador BANSAL Banco Salvadoreno/El Salvado 6,102,887 597,395 9.79%

El Salvador ENLACE CRS/El Salvador 2,186,649 1,858,660 85.00%

El Salvador Financiera Calpia, S.A./El Salvador 78,124,249 4,306,709 5.51%

El Salvador INTEGRAL Apoyo Integral, S.A. de C.V 14,154,259 1,109,612 7.84%

El Salvador New MED Activity/El Salvador

Guatemala AGUDESA Asociacion Guatemalteca par 971,405 971,405 100.00%

Guatemala Banrural 23,625

Guatemala Genesis Empresarial/Guatemala 18,652,448 3,024,500 16.22%

Haiti ACLAM/World Concern/Haiti 451,360 414,075 91.74%

Haiti ACME/Haiti 3,386,402 1,800,000 53.15%

Haiti BUH Banque de l Union Haitienne/Haiti 2,674,149

Haiti FINCA/Haiti 687,201 687,201 100.00%

Haiti FONDESPOIR/Haiti 675,676 418,520 61.94%

Haiti Fonkoze Fondasyon Kole Zepol/Haiti 963,429 359,840 37.35%

Haiti Sogesol/Haiti 5,491,420 135,402 2.47%

Honduras Aval Card/Honduras 1,353,366 3,173 .23%

Jamaica JNBS Jamaica National Building Society 2,748,810 450,531 16.39%

LAC Region ACCION International/LAC Region

LAC Region MicroRate LAC/LAC Region

Mexico ADMIC/Mexico 3,914,723 1,110,999 28.38%

Mexico FINCA MEXICO FUNDACION INTEG 5,394,215

Mexico FinComun/Mexico 15,102,965

Mexico Promujer/Mexico 1,229,798 1,229,798 100.00%

Mexico Proyecto AFIRMA Acceso al Financimiento Rural para la Microempresa (AFIRMA), Develop

Mexico WOCCU/Mexico 598,241,338

Nicaragua FAMA FAMA/Nicaragua 16,224,987 1,484,994 9.15%

Nicaragua WOCCU World Council of Credit Union 4,038,632 1,173,032 29.05%

Peru Caja Rural San Martin/Peru 21,898,989 13,139,405 60.00%

Peru COPEME Consorcio de organizaciones p 159,260,050 18,400,590 11.55%

Peru CP Caritas del Peru/Peru 2,114,382 1,895,182 89.63%

Peru Solucion Financiera de Credito del Peru/P 4,567,938 3,351 .07%

H-5
Trinidad Royal Bank/Trinidad 13,333

1,537,700,567 86,224,129

NEAR EAST Afghanistan MISFA Microfinance Investment Suppor 5,266,757 3,148,436 59.78%

Afghanistan The First Microfinance Bank of Afghanis 2,096,348 21,775 1.04%

Egypt ABA Alexandria Business Assoc. 9,059,596 1,618,905 17.87%

Egypt ASBA Assiut Business Assoc. 416,099 416,099 100.00%

Egypt DBAC Dakahleya Bus Assoc. for Investo 6,334,692 164,803 2.60%

Egypt ESED Egyptian Sm Enter. Dev. Found.. 9,725,380 1,551,703 15.96%

Egypt LEAD The Egyptian Foundation for Lend 1,099,880 464,308 42.21%

Egypt NSBA North Sinai Business Assocation/E 108,853 39,370 36.17%

Egypt SBACD Sharkia Bus Assoc. for Comm. D 3,470,408 1,381,860 39.82%

Egypt SEDAP Small Enter. Dev Assoc. Port Sai 1,394,726 486,790 34.90%

Egypt SOHAG / SEB 341,507 27,321 8.00%

Jordan AMC Ahli Microfinancing Company/Jord 3,249,431

Jordan Enhanced Productivity Program/Jordan

Jordan MEMCO Middle East Micro Credit Co./J 4,388,713

Jordan MFW Microfund for Women (formerly JW 3,699,925 238,277 6.44%

Jordan Tamweelcom Jordan Micro Credit Comp 3,829,219 903,610 23.60%

Morocco Al Amana/Morocco 49,417,520 3,994,241 8.08%

Morocco Al Karama Association Al Karama/Moro 659,254

Morocco AMSSF Association Marocaine de Solida 1,727,121

Morocco ATIL Association Tetouanaise de l`Initia 398,871 133,039 33.35%

Morocco FONDEP Fondation pour le Developpme 3,809,382 2,457,051 64.50%

Morocco Foundation Zakoura/Morocco 25,210,120 21428602 85

Morocco INMAA Institution Marocaine d`Appui a 870,365 870,365 100.00%

West Bank FATEN Palestine for Credit & Developm 2,383,899 701,540 29.43%

138,958,066 40,048,095

2,361,699,625 314,699,543

Total LAC

Total NEAR EAST

GRAND TOTAL

H-6
Region Country Institution Clients 

#

Women % Rural %

AFRICA Angola CLUSA Cooperative League of the United States/Ang 9,121 25% 90%

Angola WV World Vision/Angola 393 60% 100%

Benin EnterpriseWorks Worldwide/Benin 1,844 10% 98%

Eritrea REU Rural Enterprise Unit/Eritrea 124 24% 43%

Ghana ADRA Adventist Relief Agency/Ghana 4,200 80% 0%

Ghana TNS/G TechnoServe/Ghana 62 45% 80%

Guinea Enrma Expanded Naturel Ressources Management/Gu 920 100% 90%

Kenya TNS TechnoServe/Kenya 59 14% 84%

Malawi Chemonics International, Inc./Malawi 3 0% 50%

Malawi NASFAM National Smallholders Farmers` Associatio 34 35% 100%

Mozambique ADRA/Mozambique 40,125 27% 99%

Mozambique Africare/Mozambique 65 43% 94%

Mozambique ATA Aid to Artisans, Inc./Mozambique 346 28% 0%

Mozambique CARE/Mozambique 56,650 36% 100%

Mozambique FHI/Mozambique Food For The Hungry International/ 1,920 50% 100%

Mozambique Save the Children/Mozambique 1,411 96% 30%

Mozambique TechnoServe, Inc./Mozambique 29 10% 100%

Mozambique World Vision/Mozambique/Mozambique 2,800 20% 100%

Senegal EWW EnterpriseWorks Worldwide/Senegal 594 37% 63%

Tanzania ACDI/VOCA/Tanzania 305 85% 100%

Tanzania Aid to Artisans/Tanzania 4 60% 50%

Tanzania ApproTEC Appropriate Technologies for Enterprise C 1,102 4% 71%

Tanzania Enterprise Works/Tanzania 14,246 14% 100%

Tanzania TechnoServe Tanzania 3,710 20% 100%

Uganda ACDI/VOCA/REAP II/Uganda 250 48% 100%

Uganda ATU AT Uganda Ltd./Uganda 10,000 53% 97%

Uganda Chemonics/APEP/Uganda 160,000 15% 95%

Uganda Fisheries Project/Uganda 0 0% 0%

Uganda Land O`Lakes/Uganda 37 30% 50%

WARP IBI International Business Initiatives/WARP 450 100% 20%

Zambia CLUSA RGB Co-operative League of the USA - Rura 2,645 55% 100%

Zimbabwe Interfresh Wholesale Fruiterers/Zimbabwe 156 20% 100%

Zimbabwe NADF/Zimbabwe 3,500 60% 100%

Zimbabwe SAFIRE Southern Alliance For Indigenous Resources 11,900 70% 100%

Zimbabwe ZIMAHEAD/Zimbabwe 5,500 95% 100%

334,505

ASIA Bangladesh IRIS/JOBS University of Maryland/Bangladesh 1,090 49% 58%

East Timor AHCAE Associasao Haburas Capacidade Atoni Encla 0 0% 0%

East Timor CARE International/East Timor 0 0% 0%

East Timor CRS Catholic Relief Services/East Timor 0 0% 0%

East Timor ETICA East Timor Coffee Academy /East Timor 0 0% 0%

ANNEX I

BDS Providers in USAID Survey, 2004

Total AFRICA

I-1
East Timor FAT Fundacao Amizade de Timor/East Timor 0 0% 0%

East Timor FTH Fundacao Timor Harii/East Timor 0 0% 0%

East Timor Haburas Foundation/East Timor 0 0% 0%

East Timor Jubeleu Group/East Timor 0 0% 0%

East Timor Kiwanis International/East Timor 0 0% 0%

East Timor LET Loron Leon of East Timor/East Timor 0 0% 0%

East Timor MAFF Ministry of Agriculture, Forestry and Fishery/E 0 0% 0%

East Timor Secretary of State for Labor & Solidarity/East Timor 0 0% 0%

East Timor St. Jose Foundation, /East Timor 0 0% 0%

East Timor Timor Aid/East Timor 0 0% 0%

East Timor TOKAR Timor Oan Kaer Rasik/East Timor 0 0% 0%

East Timor University of Evora/East Timor 0 0% 0%

East Timor UNTL - FUP UNTL - Fundacao Universidade Portug 0 0% 0%

East Timor UNTL National University of Timor Leste/East Timor 0 0% 0%

East Timor Winrock/East Timor 0 0% 0%

Indonesia ACDI/VOCA Indonesia 15,472 42% 100%

Indonesia MC Mercy Corps/Indonesia 300 99% 0%

Mongolia CHF/Mongolia GER Initiative/Mongolia 4,396 55% 0%

Mongolia Gobi Initiative -Phase II Mercy Corps and PACT Inc./ 7,230 46% 100%

28,488

EE Albania LOL Land O`Lakes, Inc./Albania 0 5% 100%

Armenia DAI/Armenia 30 1% %

Croatia Deloitte Touche Tohmatsu Deloitte Touche Tohmatsu 0 0% 0%

Kazakhstan Junior Achievement/Kazakhstan 0 0% 0%

Kyrgyzstan USAID Legal Infrastructure For a Market Economy P 464 50% 24%

Moldova CNFA Citizens Network of Foreign Affairs/Moldova 3,323 60% 100%

Russia Winrock International/Russia 2,500 56% 5%

Serbia CHF Cooperative Housing Foundation/CRDA/Serbia 79 31% 100%

Ukraine LOL AMP-Land O`Lakes/Ukraine 790 0% 100%

7,186

LAC Brazil ACDI/VOCA/Brazil 1,600 25% 100%

Colombia ACDI/VOCA Agricultural Cooperative Development 3,297 22% 100%

Colombia ATA Aid to Artisans/Colombia 15 1% 85%

Guatemala STC Save The Children/Guatemala 3,612 100% 100%

Guyana Carana Corporation/Guyana 0 0% 0%

Haiti ATA Aid to Artisans/Haiti 300 20% 75%

Honduras Fintrac CDA Fintrac Inc / Centro de Desarrollo de Ag 7,355 5% 90%

Panama ACDI/VOCA Agricultural Cooperative Development 452 44% 100%

Paraguay ACDI/VOCA/Paraguay 1,200 25% 100%

17,831

NEAR Afghanistan DCA Dutch Committee for Afghanistan/Afghanistan 413 0% 90%

EAST Afghanistan DWC Development Works Canada/Afghanistan 5,485 12% 100%

Afghanistan FAO Food and Agriculture Organisation/Afghanistan 6,827 100% 100%

Afghanistan ICARDA International Center for Agricultural Resear 17 0% 100%

Afghanistan IFDC International Fertilizer Development Company/ 981 0 0%

Afghanistan ROP Roots of Peace/Afghanistan 1,000 1% 95%

Total LAC

Total EE

Total ASIA

I-2
14,723

GRAND TOTAL 402,733

Total NEAR EAST

I-3
Region Country Clients 

#

Women % Rural 

%

AFRICA Angola 13 20% 90%

Benin 0 0% 0%

Central Africa 0 0% 0%Ghana 4,200 10% 80%Kenya 0 0% 0%Kenya 823 95% 100%Kenya 23,479 30% 100%Madagascar 0 0% 0%Malawi 0 0% 0%Malawi 590 23% 100%Malawi 7 37% 100%Mali 6,000 100% 100%Mali 0 0% 0%Mozambique 2,550 34% 100%Mozambique 0 0% 0%Mozambique 23,291 33% 100%Mozambique 0 0% 0%Sierra Leone 0 0% 0%South Africa 848 92% 30%South AfricaSouth Africa 4,500 30% 20%Tanzania 0 0% 0%Tanzania 117 2% 74%Tanzania 20,000 30% 98%Tanzania 21 1% 1%Uganda 192 24% 95%Uganda 0 0% 0%Uganda 0 0% 0%WARP 10 40% 30%

ANNEX J

BDS Facilitators in USAID Survey, 2004

Institution

DAI/PRIME/WEST Productive Resources Investment for M

Land O`Lakes/UgandaCarana/WARPApproTEC Appropriate Technologieds for Enterprise CreatDAI Development Alternatives, Inc./TanzaniaEnterprise Works/TanzaniaATU AT Uganda Ltd./UgandaATA Aid to Artisans, Inc./South AfricaTriple Trust Organization/South AfricaWEI World Education NTINGA/South AfricaACDI/VOCA/TanzaniaAWF/MozambiqueCLUSA Cooperative League of the United States of AmericCTA Confederation of Business Associations/MozambiqueARC American Refugee Committee/Sierra LeoneNASFAM National Smallholders Farmers` Association of MAFE Action for Enterprise/MaliWeidemann Assoc./MaliACDI/VOCA Mozambique/MozambiqueCLUSA Cooperative League of the United States/AngolaEWW/Benin EnterpriseWorks Worldwide/BeninAWF African Wildlife Foundation/Central Africa RegionalADRA Adventist Relief Agency/GhanaAFE Action for Enterprise/KenyaCDA Coast Development Authority/KenyaKenya BDS USAID Kenya BDS Program/KenyaChemonics Chemonics International Inc./MadagascarChemonics Chemonics International, Inc./MalawiIFDC International Fertilizer Development Center/Malawi

J-1
WARP 300 100% 15%

WARP 100 0% 80%Zambia 18 25% 75%Zambia 0 0% 0%Zimbabwe 50,220 74% 90%

137,279

ASIA Bangladesh 27,500 15% 100%

Bangladesh 0 0% 0%Bangladesh 0 49% 58%Bangladesh 2,710 33% 100%Bangladesh 50,794 40% 100%East Timor 0 0% 0%India 0 0% 0%

India 2,517 100% 100%India 0 0% 0%India 9,697 17% 100%Indonesia 1,150 25% 100%Indonesia 309 60% 0%Indonesia 0 0% 0%Nepal 7,093 44% 97%Nepal 0 0% 0%Pakistan 1,654 100% 94%Vietnam 3,548 0% 100%

106,972

EE Albania 0 0% 0%

Albania 0 0% 0%Albania 236 5% 100%Armenia 0 0% 0%Armenia 0 0% 0%Azerbaijan 674 42% 100%Azerbaijan 4,196 34% 100%Central Asian 0 0% 0%Croatia DAI Development Alternatives Inc./Croatia 0 0% 0%

Total ASIA

ISB/ACIT Institute for Contemporary Studies/AlbaniaLOL Land O`Lakes, Inc./AlbaniaCHF Cooperative Housing Foundation/AzerbaijanMercy Corps International/Azerbaijan/AzerbaijanCDC/MBAEC Citizens Democracy Corps, Inc/Central Asia

Chemonics/ArmeniaDAI/ArmeniaWE World Education Incorporated/NepalMEDA Mennonite Economic Development Associates/Pa

k

IDE International Development Enterprises/VietnamDAI Development Alternatives Inc./AlbaniaACDI/VOCA IndonesiaMC Mercy Corps/IndonesiaSENADA Indonesia Enterprise and Agriculture DevelopmeIDE International Development Enterprises/NepalACDI/VOCA ACDI/VOCA/IndiaAT Appropriate Technology/IndiaCHF /IndiaInternational Development Enterprises/IndiaIRIS/JOBS University of Maryland/BangladeshWI (MACH) Winrock International (Management of AquatWorldFish Center/BangladeshDAI/East Timor

Total AFRICA

IDE International Development Enterprises/BangladeshIRG International Resources Group/BangladeshICRISAT/WARPIDE International Development Enterprises/ZambiaZAMTIE Zambia Trade and Investment Enhancement/Za

m

LEAD Linkages for the Economic Advancement of the DisIBI International Business Initiatives/WARP

J-2
Kyrgyzstan 0 0% 0%

Kyrgyzstan IFDC International Fertilizer Develo

pment Center/Kyrgyzs 150 15% 84%

Kyrgyzstan USAID Le

gal Infrastructure For a Market Econom

y Project 0 50% 24%

Moldova BIZPRO-Moldova Develo

pment Alternatives Inc./Moldova 4,468 62% 46%

Moldova PFAP-E East-West Management Institute/Moldova 2,149 8% 100%Montenegro Cooperative Housing Foundation CHF/Montenegro 0 0% 0%Russia UAA University of Alaska Anchorage/Russia 10 50% 100%Russia 0 56% 5%Serbia 0 0% 0%Ukraine LSU A

gCenter Louisiana State Universit

y A

gricultural Ce

n 0 0% 0%

Ukraine NTCA BIC NTCA Business Internet Centers/Ukraine 4,500 30% 100%Uzbekistan 0 0% 0%

16,383

LAC Brazil 0 25% 100%

Brazil 0 0% 0%Colombia 1,052 30% 100%Colombia CHF Cooperative Housing Foundation/Colombia 5,776 53% 60%Guatemala 10,218 51% 100%Guatemala 0 0% 0%Guyana 0 0% 0%Haiti 25 20% 80%Honduras Fintrac CDA Fintrac Inc / Centro de Desarrollo de A

grone

g 20,000 15% 90%

Jamaica 0 0% 0%Panama AED Academy for Educational Development/Panama 100 40% 90%Paraguay 0 25% 100%Peru COPEME Consorcio de or

ganizaciones 

privadas de 

promoc 0 0% 0%

37,171

NEAR EAST Afghanistan CADG Central Asian Development Group/Afghanistan 0 0% 0%

Afghanistan 0 0% 0%Afghanistan DCA Dutch Committee for Afghanistan/Afghanistan 127 0% 90%Afghanistan 981 0% 0%Jordan AMIR Pro

gram Achievement of Market-Friendl

y Initiative 0 0% 0%

1,108

Total EE

Total LAC

Technoserve Technoserve/GuatemalaCRS/GuatemalaChemonics International/ColombiaCDC/MBAEC/UzbekistanACDI/VOCA CDRA/SerbiaWinrock International/RussiaCDC/MBAEC/KyrgyzstanIFDC International Fertilizer Development Company/Afgha

Chemonics/Afghanistan

Total NEAR EAST

ACDI/VOCA/BrazilACDI/VOCA/ParaguayCARANA CORPORATION/JamaicaATA Aid to Artisans/HaitiCarana Corporation/GuyanaCRS Catholic Relief Service/Brazil

J-3
GRAND TOTAL 298,913

J-4
Region Country Institution Policy Issues

AFRICA Kenya DAI/Kenya (dba Kenya Microfinance Capacity Building) Microfinance Bill

Kenya KIPPRA Kenya Institute for Public Policy Research and AnaCapacity Building

Kenya WOCCU/Kenya

National Cooperative Business Networks

Legislative and Regulatory Development

SACCOs SupervisionBuilding Human CapitalAdapting Model Credit Union to HIV/AIDS 

Madagascar Chemonics /Madagascar Microenterprise Business EnvironmentMalawi Chemonics Malawi MFI Licensing & Regulatio

n

Recommendations for Govt MF Parastatals

Mali Weidemann Assoc./Mali AMAP Support ServicesNigeria PRISMS Promoting Improved MSME Services Project/NigerSupervisory and PolicySouth Africa IBM Business Consulting Services/South Africa Credit Law ReviewUganda Chemonics/SCOPE/Uganda Trade Policy 

InfrastructureBusiness Environment- (Business Licensing

ASIA East Timor DAI/East Timor Code of Conduct

USAID Small Grants Economic Growth ProSupply of Printing Needs for 2004 CensusExpertise and Capacity Building for Border Provision of Research EquipmentAdvisor and Equipment for Timor- Leste`s Rehabilitation of National Quarantine ServiSupport for Distribution and Collection of 2

Indonesia GIAT/Nathan MSI Growth through Investment And Trade/I

nSimplifying Registration and Licensing Pro

ANN

Policy Research by USAID-Supported Institutions, 2004

K-1
Regulations and Procedures

Indonesia The Asia Foundation/Indonesia Business Licensing

Regulatory Impact Assessment (RIA) Rating of Local Business Environment Attr

Philippines DAI/TPPA Development Alternatives Inc./Transnational PubRationalization of Directed Credit Programs 

Development of a Framework for the EffectRegulationEstablishment of Rules and Regulations for Institutionalizing Effective Regulation and SEstablishment of Performance Standards for Microfinance InstitutionsReview of the Legal Environment for EffecInstitutionalization of an Effective Credit inBureau

EE EE Region EWMI East-West Management Institute/EE Region Private Agrobusiness Regulatory Framewor

Georgia Chemonics Georgia Amendments to Georgian Civil Code to clarKyrgyzstan IRT Investment Round Table Public Association/KyrgyzstanTo create favorable investment climate in K

Kyrgyzstan USAID Legal Infrastructure For a Market Economy Project, Training in Law for Judges, Lawyers and O

ProfessionalsTo foster the development of commercial Legislative Drafting in a Variety of Areas

Moldova BIZPRO-Moldova Development Alternatives Inc./Moldova Ministry of Economy

State Commission on Regulating EntreprenWorking Group on Regulatory ReformMinistry of Finance

Poland Microfinance Center/Poland Capacity BuildingUkraine BIZPRO BIZPRO-DAI/Ukraine Business Environment Initiatives: One-Stop 

National Level Policy Reforms

Entrepreneur HotlinesSector and Cross-Sector Assessments and In

K-2
Ukraine Chemonics Urban/Rural Land Titling Initiative/Ukraine Land titling

Ukraine CURE/UREP Center for Ukrainian Reform Education/Ukrai

nReforms in Economic and Social Sectors

LAC Bolivia DAI PREMIER/Bolivia Restructuring of the State Development Ban

Movable Property Guarantees LegislationRegulation and Supervision 

Brazil DAI Development Alternatives Incorporated/Brazil Policy & Regulatory constraints to SME traGuyana Chemonics/Guyana WTO requirements; Trade Restrictions; FTAMexico CII Chemonics International, Inc./Mexico Non-bank Financial Institution Regulation a

Supervision

Mexico Proyecto AFIRMA Acceso al Financimiento Rural para la 

MRegulation & Supervision of Microfinance

Nicaragua WOCCU /Nicaragua Financial Regulation

WORLD

WWorldwide DAI Development Altermatives Inc. see above

Worldwide IRIS Center for Institutional Reform and the Informal Sector/Poverty Assessment Tools

K-3