AzerCredit Receives First and Only Global Gold

In 2010, Microfinance Institutions (MFIs) from around the world are ranked and reviewed by the Microfinance Information Exchange (MIX), a leading business information provider dedicated to strengthening the microfinance sector by providing financial and social performance transparency.

In June of 2010, MIX recognised 13 MFIs located in Eastern Europe and Central Asia for their excellence in reporting social performance through the Social Performance Reporting Award. Social performance refers to the commitment to serve the poor and marginalised with products and services that meet their needs and develop their lives and the lives of their families.

The Social Performance Reporting Award was developed and launched by CGAP (Consultative Group to Assist the Poor), the Social Performance Task Force (SPTF), the Michael & Susan Dell Foundation, the Ford Foundation, and with microfinance information provided by MIX in 2009.

With over 200 submissions, VisionFund’s affiliated MFI, AzerCredit of Azerbaijan, was the sole MFI to receive the gold award for social performance reporting. Dedicated to developing innovative social performance programmes, AzerCredit was recognized by MIX for their integrity and transparency in reporting, measuring, and data collection of social performance. Social performance reporting allows AzerCredit to better target the poor and design appropriate products and services.

A gold award for social performance reporting is given by MIX when an MFI completes the social performance reporting report, provides data on poverty measurement, and has a social rating that includes auditing of the poverty tool used by the MFI.