Adapted Product Series: Services that meet the needs of the Poor
Our Poverty-focused Microfinance Community of Practice (PovCoP) will be exploring adapted products over the coming months in a series of posts, group discussions, and interviews. Please join us in our quest to outline the adaptive practices and principles that are working well to support poor communities and provide measurable results. By looking at the abundance of resources made available by organizations throughout the industry, we will learn how to navigate the unique challenges that come with adapting products to specific segments. We’ll start with a few case studies and learn what made each project a success. Please help broaden our understanding by sharing your own experiences with the community as well. For more information on adapting microfinance products globally, take a look at CGAPs recently released Better Insights for Better Products.
Youth Loans in Yemen
Our first example of an adapted product was born out of a partnership between Silatech and Al-Amal Microfinance Bank in Yemen. This initiative to create a Youth Loan Fund for Yemeni youth saw quite positive outcomes and there is much that can be learned from this successful partnership venture. To begin, watch the video below.
Although the program began as a single initiative, the partnership between Silatech and Al-Amal still continues today. Silatech released a case study presenting some early outcomes, as did Al-Amal with this presentation. Al-Amal and the partnership have seen some recent press highlighting this successful Yemeni model, and the topic of Youth Loans in microfinance was addressed in 2013 in Understanding Youth and their Financial Needs, a study by the SEEP Network.
Is there a need for youth loans in your region?
If so, what has or would make them successful?
Is there a model that promotes investor confidence?
Are there other obstacles to providing youth loans in your area?
Leave your thoughts in the comments section below
Have suggestions for this Adapted Products series? Send them to Leah Verghese at MeasureLearnChange[@]gmail.com