Oikocredit joins Imp-Act Consortium to promote Social Performance Management in Microfinance

 Microfinance Focus, May 20, 2010: Oikocredit, one of the world’s largest sources of private funding to the microfinance sector has today joined the Imp-Act consortium for expanding its social performance learning in the microfinance sector. In joining the consortium, Oikocredit brings its experience in implementing the Cerise SPI social audit tool and building capacity through Grameen Foundation’s PPI. The move will provide Oikocredit an opportunity to learn, network and contribute to social performance management in the microfinance industry.

 Oikocredit strives to be a leader in social performance and promote social performance management among its project partners. Achieving the social goals and objectives of an organization is more likely if they are clearly defined, monitored, measured, assessed and reported on as systematically as an organization’s financial performance.

 ”Social goals such as reaching the poor and having a positive impact on lives are not achieved automatically and effective performance management requires both a social and financial perspective,” said Oikocredit manager of Social Performance Ging Ledesma. “Being a part of the Imp-Act consortium means Oikocredit has joined like-minded organizations and networks and we can collaborate with, contribute to and learn from.”

 The Imp-Act Consortium work to make microfinance more effective in reducing poverty and other social goals by supporting and promoting Social Performance Management (SPM). As social businesses, MFIs apply commercial means to achieve social ends. It believes that effective performance management requires a social and financial perspective, and that SPM is good for clients and for business.

© 2010, Microfinance News. All rights reserved. 2008-09