The Network is a member-driven organisation, with the members deciding on issues to be addressed and activities to be undertaken by MF Pasifika. Therefore, it has been decided by a quorum of provisional members during the 2006 Vanuatu launch that the main activities of the Microfinance Pasifika network will be:
The network will create the opportunities to deliver capacity building programs on demand-based services such as training courses, exposure visits and workshops. The programme will become a vehicle for needs assessments in the region and provide tailor made specialised services to the members and clients. It will aim at filling the gaps left by existing programs and services in the region.
Over the coming years, Capacity-building may also include institutional strengthening, financial management, ICT (information, communication and technology) development, and product and service development. This will all be decided according to the needs expressed by the members.
The network focuses to develop a knowledge base of microfinance practice in the Pacific region amongst its members. The network acts as a platform for mutual learning and sharing of information, knowledge and experience. It creates a regional pool of resources both, human resources and resource materials in order to facilitate the growth of the microfinance sector.
The network will:
Due to the general lack of information and knowledge about the microfinance landscape in the Pacific Islands, the research agenda of the network is to systematically examine the status quo, efficiency, effectiveness, and challenges of the given microfinance design in the Pacific region.
By testing and evaluating existing and potential future microfinance schemes, action research will collect information about development policies, best practice methods, shortcomings and improvements.
Most of the work will involve field research, either through collecting new data from existing member organisations or implementing new designs to test their effectiveness.
Proposed research activities:
Microfinance country profiles: The Country Profiles includes the basic elements of national microfinance country profiles focusing on best practices, innovations and partnerships with the regulated financial sector.
Objectives of the Country Profiles are:
Cross-regional research on new or cutting-edge issues in microfinance: These will draw on lessons learned from the diversity of initiatives in the Pacific region. Examples could include initiating or extending research in the following fields:
In order to emphasise the strong demand for sustainable microfinance institutions, the network puts high importance on promoting transparency and accountability of microfinance stakeholders in the Pacific region.
Transparency helps the public (e.g. target groups, donors, financiers) to understand the microfinance-related policies by collecting reliable operational data on the performance of partners, and adds tremendous value to the industry. It also provides the general public and the markets with all relevant information on its strategy, products, assessments and policy decisions as well as its procedures in an open, clear and timely manner. Public disclosure of partner performance can be an effective way to hold partners accountable for meeting standards.
Moreover, the network will support financial and operational accountability of its members, which includes the regular provision of outreach and impact data as well as audited financial statements, annual reports and increased disclosure standards.
The network focuses on more credible and effective performance indicators of microfinance institutions in the Pacific region by forcing them to be clear about their goals and objectives and how they perform their tasks.
To promote transparent and accountable microfinance institutions in the Pacific region, the network will promote good standards for microfinance industry and encourages microfinance institutions to get listed.
Advocacy on behalf of microfinance institutions is a key function of the MF Pasifika. The microfinance institutions have a platform from which they can speak with one voice. The need for an advocacy mechanism is also related to the development of a microfinance code of best practices important for the long-term sustainability of the microfinance sector in the Pacific region.
The selection and sequencing of all network activities will follow ongoing consultation with the Microfinance Pasifika network members and other stakeholders. The criteria will be based on:
All Resources and activities will be dependent on funding provided either through this program, or leveraged from external sources.