The view from the field: Perspectives from managers of microfinance institutions

By examining three different institutional frameworks and performances, this paper portrays the challenges and potential for microfinance programmes to solve some of the key constraints in the field today. Tracing the growth of BancoSol, a new, private Bolivian commercial bank dedicated almost exclusively to microenterprise, many lessons about the institutional development of profitable micro-lending organizations emerge. The Kenya Rural Enterprise Programme provides evidence of the complementary roles technical assistance and other NGO services play in the strengthening of both microenterprises and microfinance programmes. Finally, the long track record and diverse lending programmes of Thailand's Bank for Agriculture and Agricultural Cooperatives draw lessons in the criteria and methods of effective financial intermediation. Elements of success and differences among the cases are highlighted.