The 2023 MFI Index

The Microfinance Index is a groundbreaking financial inclusion initiative that provides high-quality, comparable impact data for the microfinance industry, driven entirely by client voices. This annual initiative has expanded to collect more than 1 million unique global data points in 2023.

The 60 Decibels Microfinance Index is live!

The 2023 Microfinance Index includes data from more than 115 participating financial service providers (FSPs) and is supported by 32 Partners. Now in its second year, the 2023 Microfinance Index has surveyed 32,000+ microfinance clients in 32 countries focusing specifically on clients in Cambodia, Ecuador, India, Indonesia and Uganda. This year’s survey gathers quantitative and qualitative data along six key dimensions of impact, including Access, Business Impact, Household Impact, Client Protection, Resilience, and Agency.

The data behind the Index is available now, and our public report will be released later in the year.

Access the data behind the MFI Index!
Dashboard demo

5 key insights

1. Clients with group loans report a better experience of their Financial Service Provider (FSP) than those with individual loans.
2. Clients in Southeast Asia report their loan repayments are a burden more often, driven by results from Cambodia.
3. Microfinance clients continue to report higher confidence to deal with a future shock than the population as a whole.
4. Clients who use their loan for business (productive) purposes report better outcomes in financial resilience and in their households.
5. Females report slightly stronger outcomes in confidence and decision making compared to males, two indicators within the agency dimension.
Explore the 5 key insights (graphs + stats)

Top Impact Awards

The MFI 2023 Top Impact Awards recognise the top 3 ranked financial service providers surveyed in each region – Africa, Asia and Latin America, listed in alphabetical order.

MFI 2023 Top Impact Award – Africa

Grace and Mercy Households Improvement Initiative

MicroLoan Foundation Zambia

Kenya Woman Microfinance Bank

MFI 2023 Top Impact Award – Asia


Svasti Microfinance

Tinh Thuong One Member

MFI 2023 Top Impact Award – LatAm

Friendship Bridge

Fundación Génesis Empresarial

Pro Mujer México

Explore the Top Impact Awards and criteria here

Why the Microfinance Index?


Access synthesized insights from the largest impact assessment in the microfinance industry

Top MFIs

Discover and celebrate top performing microfinance institutions across different markets


Engage with an interactive dashboard, and analyzing the data across segments like gender, country, and tenure

“As for my family, we no longer have extreme financial worries. We no longer have to run back and forth looking for someone to lend us money to support and maintain our business.”

— Female, 53


Financial service providers




Human voices

Want to dive deeper?

Explore 3 new ways to access the data behind the 2023 MFI Index
Access the Data Behind the MFI Index

Quirky, informative and a little bit nerdy - sign up for The Volume

Priority access to our favorite monthly finds, alongside 11,489 other data geeks

By signing up to the 60 Decibels mailing list, you consent to your data being collected and stored in line with our privacy policy