“This is a way to take the social work up a notch,” Ford says.
But in addition, MCE is beginning to branch out beyond MFIs and extend its guarantee strategy to non-bank financial institutions. In particular, it's looking to amplify its work by empowering groups of people such as collectives and coffee cooperatives, as well as other small and medium enterprises that can grow their businesses and employ more people.
“Micro-finance was never going to do everything,” Ford says. “It got a little over-sold in terms of its importance with respect to the entire poverty puzzle.”