Rating Initiative brings more transparency to the microfinance industry
The Rating Initiative, a global project that aims to develop ratings and transparency in microfinanceecently launched the website www.ratinginitiative.org. This new site contains information enabling MFIs to apply for co-funding of a rating project, while investors can download profiles of the rating agencies and their products and individual rating reports. The Rating Initiative is a four year project designed to encourage at least 800 new Microfinance Institutions (MFIs) to engage in regular financial and social ratings.
In addition, visitors can find out more about rating agencies and their products, download promotional tools and explore the most recent developments in the field by clicking on links to other dedicated websites. Furthermore, the Rating Initiative will be one of the primary sources for rating reports and will continuously update its database in order to promote greater transparency in the microfinance sector.
Finally, the site hosts a series of studies on the rating market, including the annual Microfinance Rating Outlook Report and the recently released User Reviews for Social Performance Assessment Tools. Other studies of interest will be added to the site over time.
Rating Initiative was launched by the Luxembourg microfinance agency ADA (Appui au Développement Autonome) in collaboration with the Government of Luxembourg, Microfinance Initiative Liechtenstein (MIL), Swiss Development Cooperation (SDC), Oxfam Novib, Oesterreichische Entwicklungsbank (OeEB), the Principality of Monaco, responsAbility, BlueOrchard and the Social Performance Task Force (SPTF). The project operates as a public-private partnership managed by a Steering Committeeand an Advisory Board and is administered by ADA in Luxembourg.
French and Spanish versions of the site will become available during the first quarter of 2010.
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