As an employee of BNP Paribas Fortis, I took a few months’ leave of absence to go to India. I was to assist the management of ESAF Microfinance and Investments (Private) Ltd. (EMFIL) in implementing their growth strategy and in establishing a social performance management system.

Based in Thrissur, in the state of Kerala, this microfinance institution was established in 2006 by ESAF India, an NGO that has been involved in community development for last 18 years. EMFIL provides a range of financial products to over 230,000 customers who are excluded from the traditional banking system.

At the same time, ESAF India and its affiliates provide a myriad of services that help empower its customers both economically and socially: they provide technical training, facilitate access to the market, develop production capacity, create their own “fair trade” brand, provide health insurance, organize forums on various issues that affect the communities such as AIDS, and support communities in post-tsunami reconstruction…just to name a few!

While working at EMFIL, I discovered a profoundly socially-oriented organization that has remained true to its original mission, despite its transformation into a regulated institution. Buoyed by the optimism of its management team, EMFIL plans to expand even further.

One of the basic principles of microfinance is the dual mission of social and financial performance. Consequently, a rapidly growing institution such as EMFIL must ensure that its systems, policies and procedures are sufficiently developed to guarantee and safeguard its social responsibility and de facto protect the customer.

Working in India is an extraordinarily enriching experience, though between the daily power cuts and the stifling heat it can be challenging at times—imagine 36° Celsius heat with 70% humidity, and obviously no air conditioning!

During my one-month assignment, I also had the opportunity to visit a few customers and talk to them about the impact microcredit had on their day-to-day lives. Najeeba, for one, makes decorations for elephants. Thanks to her microcredit loan, she has been able to buy more materials and therefore expand her business. Requests are pouring in from all over India, and Najeeba now employs several women in her village.

I arrived in Madras this week for my second assignment, this time with IFMR Capital. The amazing contrast between the quiet and welcoming countryside and the traffic and chaos of the city is something to behold…I’ll be sure to keep you posted!