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| Microfinance in the Philippines was given birth back in the 80s where NGOs were revolutionized due to the influx of foreign aids and surfacing poverty caused by political repression. Back then, microfinance industry’s thrust is to assist the poor through loans and savings. As microfinance trends changed over time, the industry also aligns and modifies approaches towards poverty eradication. However, the issues of imbalance between financial gain and social responsibility, in consequence, accustoming microfinance institutions to giving further adversity to the poor has emerged. Hence, the birth of Social Performance Management - an area of growing importance in the microfinance. |
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| As defined by the Imp-act Consortium, Social Performance Management (SPM) is an institutionalized process which effectively translates an institution’s mission into practice, in line with accepted social goals that relate to: • Serving increasing numbers of poorer and excluded people sustainably
• Improving the quality and appropriateness of financial services available to target clients through systematic assessment of their specific needs
• Creating benefits for clients of microfinance, their families and communities in terms of: increasing social capital, assets, income, and access to services; reducing vulnerability; and fulfilling basic needs
• Improving the social responsibility of the MFI towards its clients, its employees and the community it serves.
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| The diagram shows the importance and use of strategy and operations’ information to achieve the organization’s intended results. |
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