Financial sustainability in savings and credit programmes

This article provides a framework for determining, justifying, and improving financial sustainability of savings and credit programs. Credit programs have income from interest and fees. Income must pay for the cost of funds, loan write-offs, operating costs, and inflation. Reference is made to Otero and Rhyne's four levels of self-sufficiency in credit programs. The Grameen Bank is an example of Level 3 and most credit unions are level 4. Nongovernmental groups in the United Kingdom are level 1 or 2. Experience has shown that removal of subsidies did not affect the quality of services or shift benefits away from the poor. Success in serving poorer people better is attributed 1) to more money being available for lending under tighter management practices, 2) to greater openness to a variety of clients from removal of subsidy restrictions, 3) to a shift to higher interest rates that eliminate richer borrowers, and 4) to a shift to serious collection of loans which is a disincentive to more privileged borrowers. Percentages of loan loss, administration costs, cost of funds, and inflation are useful in measuring the sustainability of credit programs. Interest and fee income must also be measured. Fee repayment rates do not have a common definition of arrears, default, and write-off. A simple measure is the percentage of total costs covered by income. The World Bank recommends the Subsidy Dependence Index. Women tend to be better at repaying loans. Loan size should be related to borrowers' ability to handle the amount of the loan. Low and subsidized interest rates deter depositors and attract richer borrowers. Poorer borrowers are attracted by access to credit and not the cost of credit. Interest rates should be based on market rates. The loan payment should be no longer than necessary. Small groups of borrowers can guarantee each others loans. Group-based loan schemes work best. NGOs must project an image of being serious about loan collections and must take action immediately when a payment is missed. Good repayers should be rewarded with quick repeat loans.     

发明获得法律保护的条件

<正> (一)能够取得专利的发明概念发明是专利法的客体。"发明"(Invention,Erfindung)概念的定义对任何一个法律体系来说都具有重要的实践意义,因为专利法效力的范围是由这个定义的内容决定的。同时,发明的定义引起颇大的复杂性,因为它表现了智力活动的一个侧面。由于这些原因,发明的概念曾是法律著作中反复探讨的对象。И.Я.赫伊费茨给发明下的定义是:技术课题的创造性解决方案。许多其他苏联作者也持这个观点。外国作者在给发     

刑法和环境保护

<正> 最近几年,人们对利用刑法保护环境问题的兴趣大大增强。包括苏联在内的许多国家,对这个问题都通过了新的刑法。"刑法和环境保护"的问题,列入了1979年9月在汉堡召开的国际刑法协会第十二次会议的议事日程。不久前,在波兰对这个问题还进行了预备性的口试。刑法在保护环境中的作用。苏联宪法第十八条所规定的环境,是指经常影响人们、同时     

再论完善经济立法

<正> 经济立法以及它和其他法律部门的区别。在1936年的苏联宪法里溲有经济法的术语。由此或许可以得出结论说,苏联溲有经济法,而只有民法、劳动法、土地法,家庭法等等。但是根据党和政府的决议,经济立法是存在的,而且在发展着,它非常复杂,非常广泛,并且应当完善。我们认为,在实践中广泛使用的"经济的"这一概念是十分确定的。在党和国家最重要的文件里,谈及社会主义经济中各经济组织、企业之间发生的合同和争议时就是说的经济立法、经济关系、经济合同和经济争议。