ECLOF Dominicana in the Microfinance Americas Top 100
ECLOF Dominicana’s presence was noted in the annual ranking of the major microfinance institutions in Latin America and the Caribbean 2013 that the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB), and the Microfinance Information Exchange, Inc. (MIX) presented for the tenth consecutive year.
The ranking methodology is based on performance measures applicable to the microfinance industry. The score of each MFI (Microfinance Institution) is determined by the combination of indicators grouped into three pillars: outreach, efficiency and transparency. Out of 225 competing MFIs, ECLOF Dominicana stood out in the top 100 ranking by reaching the 56th place overall, the 14th place in terms of efficiency and 10th in terms of profitability.
Efficiency and profitability are important in the field of microfinance, as they allow the funds to be used to serve a maximum of clients. They are also directly linked with sustainability that is essential for an MFI since it provides security for the clients. Finally, it demonstrates the ability of the organisation to target the right customers and support them properly.
On behalf of ECLOF network, we are proud to extend our sincere congratulations to ECLOF Dominicana for its hard and successful work in poverty eradication in the Dominican Republic since 1984.