Stemming the Tide of Mission Drift: Microfinance Transformations and the Double Bottom Line
This paper provides an overview of the process by which microfinance institutions (MFIs) convert from NGOs into regulated financial institutions—known as transformation—and examines the impact of transformation on a control group of MFIs tracked by WWB over the past five years, giving particular attention to the effect of transformation on MFIs’ outreach to low-income women.