Microfinance... took another step toward becoming a distinct asset class with the advent of a mechanism for objectively rating microfinance funds. MicroRate, an independent company that already rates microfinance institutions (MFIs), has been working to develop a microfinance fund-rating tool for several years. At a May 1 Silicon Valley Microfinance Network (SVMN) talk, Bob Patillo of the Gray Ghost Microfinance Fund (a $75 million microfinance "fund of funds") announced a project to support the MicroRate rating tool that is also backed by the Omidyar Network and the Gates Foundation.
Full story over at Social Funds.
Related: USAID's MicroLinks is hosting an e-conference on Hype and Hope: The Worrisome State of the Microcredit Movement with Thomas Dichter.
Update: WB-Brookings global conference on access to finance, May 30-31.
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