The Microcredit Summit Campaign, A Global Movement

The Microcredit Summit Campaign is a global movement that aims to reach 175 million of the world's poorest people with microcredit by 2015.

The campaign was launched in 1997 by Muhammad Yunus, the founder of Grameen Bank, who is also the Nobel Peace Prize winner in 2006.

The Microcredit Summit Campaign was founded on the idea that microcredit can be a powerful tool for poverty reduction and economic development.

In 2006, the campaign set a goal to reach 175 million of the world's poorest people with microcredit by 2015, with the ultimate aim of halving global poverty rates.

Curious to learn more? Check out: Microcredit Regulatory Authority

The Microcredit Summit Campaign is a remarkable initiative that aims to support work that helps advance industry toward a significant goal. The 100 Million Goal is to help 100 million families lift themselves out of extreme poverty.

This campaign is built on the foundation of the 100 Million Project, which galvanized and supported work that contributes to this ambitious objective. The project's focus on industry advancement is crucial in achieving this goal.

The campaign's efforts are centered around helping families break the cycle of poverty, and it's a testament to the power of collective action and determination.

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By the end of 2010, the Microcredit Summit Campaign counted over 3,600 microfinance institutions that reported reaching more than 205 million clients with a current loan.

These institutions were spread across various regions, with 1,009 in Sub-Saharan Africa, 1,746 in Asia and the Pacific, and 647 in Latin America and the Caribbean.

A significant portion of these clients were among the poorest, with 137.5 million being among the very poor, and 82.3 percent, or 113.1 million, being women.

The growth in the number of very poor women reached has been remarkable, increasing by 1,001 percent from 10.3 million in 1999 to 113.1 million in 2010.

The largest 85 individual institutions and networks reporting to the Microcredit Summit Campaign served 122.5 million of these poorest clients, which is about 89 percent of the total number of poorest clients reached.

The Microcredit Summit Campaign has collected data for 14 years, starting in 1989, but began verifying that data in 2000.

The process of identifying access to microfinance involves circulating Institutional Action Plans to thousands of practitioners, requesting they submit their most recent data.

A phone campaign is also conducted to encourage hundreds of the largest microfinance institutions (MFIs) to submit their data.

To ensure accuracy, the largest MFIs' data is verified through a third-party corroboration process.

The data compilation and analysis process is a crucial step in creating the final report.

The data presented in the final report comes mainly from individual institutions, excluding network institutions to prevent double counting.

Curious to learn more? Check out: MicroFinance Institutions Network

The Microcredit Summit Campaign has been instrumental in building a movement to provide financial services to the poor. The campaign's efforts have led to significant progress in reaching the goal of 175 million of the world's poorest families receiving credit for income-generating activities.

The Microcredit Summits have been a key component of the campaign, bringing together stakeholders from around the world to share best practices and discuss strategies for scaling up microfinance programs. The State of the Campaign Report 2013 highlights the importance of these summits in building a global movement to combat poverty.

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The Microcredit Summit Campaign has achieved remarkable success with limited resources.

The campaign's founder, Muhammad Yunus, started with just $27 in his pocket.

He understood that even small amounts of money could make a big difference in people's lives.

In Bangladesh, Yunus's Grameen Bank lent small loans to poor women, who used the money to start their own businesses.

These loans were as small as $13, and repayment rates were incredibly high at 98%.

The Grameen Bank's success was so significant that it helped to launch the Microcredit Summit Campaign.

The campaign's goal was to reach 100 million of the world's poorest people with microcredit by 2005.

It took just five years to reach that goal, and the campaign continued to expand after that.

Discover more: Micro Credit Definition