Update on Donor Actions Taken
This note provides a snap-shot of the progress achieved by the 17 agencies that participated in the "Peer Reviews" that the Consultative Group to Assist the Poor (CGAP) conducted.
The Peer Reviews aimed to help donors increase their effectiveness. They were a collaborative effort, with nearly 900 donor staff from 21 agencies participating as reviewers, interviewees, and/or hosts. The following global trends and actions resulted from this exercise:
- The reviews helped broaden donor staff and managements views on microfinance and how it relates to financial and private sector development;
- Agencies demonstrated an interest in codifying the lessons from the reviews in updated standards of good practice for donor support to building financial systems that work for the poor;
- The reviews helped agencies identify their comparative advantage in microfinance so they can align their operations accordingly and better position themselves;
- Relationships among staff, both within and among development agencies, have deepened. Top management and staff engaged in detailed discussions on the everyday constraints to effectiveness.
The note concludes by stating that CGAP is incorporating knowledge gained from in-depth exposure to the daily realities of its member donors to improve its services to them. Upon request, CGAP staff has continued working closely with agencies to further discuss recommendations, help draft work plans, and brainstorm about future strategic directions.
