{"id":85641,"date":"2015-04-06T17:08:33","date_gmt":"2015-04-06T21:08:33","guid":{"rendered":"https:\/\/www.umw.edu\/news\/?p=85641"},"modified":"2015-04-06T17:08:33","modified_gmt":"2015-04-06T21:08:33","slug":"umws-month-of-microfinance-a-platform-for-global-discussion","status":"publish","type":"post","link":"https:\/\/www.umw.edu\/news\/2015\/04\/06\/umws-month-of-microfinance-a-platform-for-global-discussion\/","title":{"rendered":"UMW\u2019s Month of Microfinance a Platform for Global Discussion"},"content":{"rendered":"<p>The University of Mary Washington will host the fourth annual <a href=\"http:\/\/monthofmicrofinance.org\/\" target=\"_blank\">Month of Microfinance<\/a> this April, leveraging the month as a platform for a global discussion surrounding the results of a new study questioning microfinance\u2019s impact on poverty.<\/p>\n<p><!--more--><\/p>\n<figure id=\"attachment_85642\" aria-describedby=\"caption-attachment-85642\" style=\"width: 300px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.umw.edu\/news\/files\/2015\/04\/MOMF2.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"85642\" data-permalink=\"https:\/\/www.umw.edu\/news\/momf2\/\" data-orig-file=\"https:\/\/www.umw.edu\/news\/wp-content\/uploads\/sites\/7\/2015\/04\/MOMF2.jpg\" data-orig-size=\"600,450\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"MOMF2\" data-image-description=\"&lt;p&gt;#MicrofinanceCanBe Campaign Submission&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;#MicrofinanceCanBe Campaign Submission&lt;\/p&gt;\n\" data-medium-file=\"https:\/\/www.umw.edu\/news\/wp-content\/uploads\/sites\/7\/2015\/04\/MOMF2-300x225.jpg\" data-large-file=\"https:\/\/www.umw.edu\/news\/wp-content\/uploads\/sites\/7\/2015\/04\/MOMF2.jpg\" class=\"size-medium wp-image-85642\" src=\"https:\/\/www.umw.edu\/news\/files\/2015\/04\/MOMF2-300x225.jpg\" alt=\"#MicrofinanceCanBe Campaign Submission\" width=\"300\" height=\"225\" srcset=\"\/\/www.umw.edu\/news\/wp-content\/uploads\/sites\/7\/2015\/04\/MOMF2-300x225.jpg 300w, \/\/www.umw.edu\/news\/wp-content\/uploads\/sites\/7\/2015\/04\/MOMF2.jpg 600w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-85642\" class=\"wp-caption-text\">#MicrofinanceCanBe Campaign Submission<\/figcaption><\/figure>\n<p>The Month of Microfinance is a global grassroots movement that aims to solve poverty through client-centered microfinance programs, including microcredit loans. Yet recent studies show that this movement might not be making a difference. The academic research, <a href=\"http:\/\/www.worldbank.org\/en\/news\/feature\/2015\/02\/27\/world-bank-group-forum-convenes-partners-to-explore-implications-of-latest-research-on-microcredit\" target=\"_blank\">presented at the World Bank<\/a> in February, included six randomized control trials of microcredit programs. The results showed that while microcredits are a viable method of developing business pursuits, the loans lack a significant and sustainable impact on moving people out of poverty.<\/p>\n<p>According to UMW Professor of Economic Shawn Humphrey, founder of the Month of Microfinance, the research is a challenge to the traditional microfinance narrative, where clients access credit to become entrepreneurs and pull themselves and their families out of poverty.<\/p>\n<p>\u201cIt\u2019s a big moment for the movement,\u201d said Humphrey. \u201cMicrofinance is more than just microcredit though. The conversations throughout April will highlight the need for microcredit to be complemented by additional services like financial literary training.\u201d<\/p>\n<p>With the Month of Microfinance taking place in April, just two months after the results were published, the month becomes an opportunity for the microfinance community to respond to the research.<\/p>\n<p>\u201cWe\u2019re the stage for the conversation about how to respond to this research,\u201d said Humphrey. \u201cWe\u2019re publishing responses to the research from key players in the space to start the discussion.\u201d<\/p>\n<p>The Month of Microfinance blog includes two key responses to the research from <a href=\"http:\/\/monthofmicrofinance.org\/engage\/blog\/is-it-april-fools-day-or-groundhog-day-when-will-researchers-catch-up-with-microfinance-leaders\/\" target=\"_blank\">Larry Reed<\/a>, Director of the Microcredit Summit Campaign, and <a href=\"http:\/\/monthofmicrofinance.org\/engage\/blog\/from-microcredit-to-what\/\" target=\"_blank\">Sam Daley-Harris<\/a>, author of Reclaiming our Democracy. The blog also shares an article by <a href=\"http:\/\/nextbillion.net\/authorposts.aspx?auid=458\" target=\"_blank\">James Militzer<\/a>, editor of <a href=\"http:\/\/nextbillion.net\/\" target=\"_blank\">NextBillion<\/a> Financial Innovation, who notes that \u201cfor a researcher working on microcredit, this is kind of a defining moment.\u201d<\/p>\n<p>UMW will also host a screening of the documentary \u201cLiving on One Dollar\u201d and a panel discussion about the work of <a href=\"http:\/\/laceibamfi.org\/\" target=\"_blank\">La Ceiba<\/a>, a student-run microfinance organization in Honduras, on Friday, April 24. The event will begin at 6:30 p.m. at the Whole Foods in Richmond, Virginia.<\/p>\n<p>The Month of Microfinance was established in 2008 by Humphrey and is run by five UMW students. The month brings students, instructors, microfinance professionals and researchers together with more than 100 global partners to facilitate conversations and connections among those involved in poverty.<\/p>\n<p>For more information about the Month of Microfinance, visit <a href=\"http:\/\/monthofmicrofinance.org\/\" target=\"_blank\">http:\/\/monthofmicrofinance.org\/<\/a> or join the conversation on Twitter with #MicrofinanceCanBe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The University of Mary Washington will host the fourth annual Month of Microfinance this April, leveraging the month as a platform for a global discussion surrounding the results of a new study questioning microfinance\u2019s impact on poverty.<\/p>\n","protected":false},"author":61,"featured_media":85642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"umw_cb_additional_links":[[]],"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_advisory_expires_time":"","_advisory_meta_include":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[709,704],"tags":[747,761],"topics":[],"class_list":{"0":"post-85641","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newsletter-archived-latest-news","8":"category-top-stories","9":"tag-bio","10":"tag-shumphre","11":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - 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