COLLABORATION BETWEEN HARVARD KENNEDY BUSINESS SCHOOL AND FIRST MICROFINANCE BANK PAKISTAN
Group Members: Submitted to:
Syedda Mariah Atiq Sir Naseer ul Haq
Mahwish Bilal Date:
Mehreen Akhter Saturday,Dec 12,09
First of all we would like to thank Allah Almighty, by whose Grace; we were able to complete this project in time.
Secondly, we would like to thank Mr. Sheikh Naseer ul Haq who taught us with dedication throughout this semester. Through the numerous assignments she gave throughout the semester and especially this project, we have attained a lot of knowledge.
We would also like to thank the employees of First Micro Finance Bank Head Office situated in Evacuee Trust Building F-5 Islamabad, for their help in answering our questions patiently for our research.
Finally we would like to thank our parents, who have always supported us and through their efforts and prayers, we are where we are today.
May Allah grant us success in our lives and studies
LIST OF ABBREVIATIONS
AKDN Aga Khan Development Network
FMFB-P First Microfinance Bank – Pakistan
MFI Microfinance Institution
MFOs Microfinance Officers
SDC Swiss Agency for Development and Cooperation
SPR Social Performance Research
V/WO Village/Women Organization
The First Microfinance Bank Pakistan (FMFB-P) has established a new Social Performance Research Initiative in collaboration with Harvard University, and with financial assistance from the Swiss Development Cooperation (SDC), in order to build and share knowledge, experiences and resources about the social performance of the Bank; thereby reaching the poor and poorest more effectively through the creation of targeted microfinance products and services
In 2007, FMFB-P initiated a series of Participatory Need Assessment exercises across its various branches, in order to better understand the needs of its clients and determine how these needs were being prioritized according to local knowledge and circumstances. The exercise was able to intervene in community development through a more meaningful and refined targeting of microfinance products and services.
Over the next two years, the Social Performance Research Department of FMFB was able to formulate a more structured project design, one which could be implemented on a yearly basis not only to identify local needs through a participatory process, but also to assess the impact of current products and services. The involvement of research specialist Guy Stuart of Harvard University led to the initiation of a project titled ' Social Performance Indicators'. The aim of this project is to develop a set of 10-20 specific indicators on social living standards, formally to be completed by the end of 2009. The resulting indicators from this project will then be used as a baseline from which the bank will be able to track its social performance over time, repeating the research protocol annually. At the time of this application, Harvard University is only involved in the baseline study. An overview of the current status of the project is provided below.
The project aims to survey 10, 000 households from 10 regions of Pakistan to understand how communities define and rate their living status across three dimensions.
1. Household well-being (poverty)
2. Women's Status (Empowerment)
3. Community well-being (Socioeconomic transformation)