Microfinance Development Program - Subprograms 1 and 2: Program Completion Report

Implementation has also revealed an urgent need to enhance the information technology (IT) capabilities of the PCFs and MFIs so that the credit reporting and information exchange can be improved. The MDP helped the SBV standardize the reporting requirements for PCFs and MFIs and set up the microfinance information exchange system within the National Credit Information Center (CIC). However, a majority of these small- sized credit institutions lack the skills and standard IT systems to properly comply with the new reporting standards. This makes it difficult to consolidate and analyze reports from these credit institutions effectively.