Microfinance originated from informal financial organizations. There are two ways to link the development of microfinance projects with banks: the first is that small-scale projects gradually become independent institutions and then develop into formal financial institutions, such as Grameen Rural Bank in Bangladesh and Sunshine Bank in Bolivia. The second is that formal state-owned banks introduce microfinance projects to gradually serve a large number of low-and middle-income customers, and realize the establishment of special microfinance departments in formal financial institutions, which can be profitable according to market mechanisms. For example, the microfinance department of the People's Bank of Indonesia and the pilot projects of the European Bank for Reconstruction and Development in Eastern Europe; Agricultural Bank of Mongolia after reform. At present, there are many different microfinance models in the world, including non-governmental organizations, cooperative organizations and formal financial institutions.

1. NGO model: the rural bank model is an example of non-governmental organizations engaged in microfinance. Grameen Rural Bank was founded in 1974. It was transformed into an independent bank with the support of the government in the 1980s, but it is still a non-governmental organization in essence. By the end of 2003, Grameen had 1 195 business offices, 12000 employees, covering 3 12000 poor farmers, with a balance of $227 million in deposits and $274 million in loans, with an annual interest rate of 20% for basic loans and a loan recovery rate of 99.06. It is worth mentioning that in order to get rid of the negative image of relying on subsidies, Grameen stopped accepting the injection of aid funds from the government and international institutions from 1998, and began to issue large loans to small and medium-sized enterprises to cope with customer needs and peer competition pressure. Grameen's group-based farmers' organization requires poor people with similar socio-economic status in the same community to voluntarily form loan groups, help each other choose projects, supervise each other's implementation, and assume the responsibility of repaying loans; Establish a center based on the group as a place for loan transactions and technical training; Unsecured, short-term small loans, but farmers are required to repay in installments and participate in center activities regularly. For farmers who abide by bank discipline and repay their loans on time on the basis of successful projects, a continuous loan policy will be implemented. Institutions themselves implement commercial management, especially cost accounting centered on workload verification.

2. Formal financial institution model: The microfinance department of the People's Bank of Indonesia (BRI-UD) and Thailand (BAAC) is a formal financial institution engaged in microfinance model. The Microfinance Department of the People's Bank of Indonesia has regional people's banks, grass-roots banks and independent business centers. Independent business center is a grass-roots business unit, independent accounting, can independently decide the scale, duration and mortgage of loans, and implement loan issuance and recovery. Establish an incentive mechanism within the organization. Independent business centers conduct independent accounting and distribute 10% of annual operating profit to employees in the second year. Implement the commercial loan interest rate to cover the cost (annual interest rate of 32%); If the borrower repays the loan on time within 6 months, the bank will return 5% of the principal every month as a reward; The savings rate is determined according to the amount of deposits. The more deposits, the higher the interest rate. This policy has enabled BRI to absorb a small amount of hot money from about 33 million farmers in rural Indonesia, and savings have become the main source of its loan principal. Strictly distinguish the social service function and profit function of banks. Banks do not undertake the obligation to train and educate farmers. BRI-UD's high interest rate and the policy of encouraging savings enable financial institutions to achieve financial sustainability.

3. Close contact mode between financial institutions and non-governmental organizations: NABARD, India's state-owned development bank, is a mode that combines informal farmers' mutual aid groups (SHG) with formal financial services to engage in microfinance. This pattern begins with 199 1. NABARD conducts social mobilization and group-building training for farmers' mutual aid groups composed of 15-20 women through its employees and partners (also known as mutual aid promotion agencies, referring to grass-roots commercial banks/credit cooperatives/farmers' cooperative organizations/quasi-government agencies). Farmers' mutual aid groups first carry out savings and loan activities (commonly known as revolving funds), NABARD provides capacity-building and staff training support to partners providing social intermediary and financial intermediary services, and also provides grassroots support. In fiscal year 2002-2003, NABARD*** provided about 654.38 billion Canadian dollars in new loans to 260,000 newly established farmers' mutual aid groups. By March 2003, NABARD had provided loans to 65,438+065,438+600,000 poor families in China, covering nearly 20% of poor families in China.

4. Community cooperative bank model and village bank model: Community cooperative banks (also known as credit cooperatives) are self-service financial institutions managed by members. It is managed by a specific group or organization. Cooperative banks are democratic non-profit financial cooperatives. It is owned and managed by all members, and each member has one vote to elect the head of the cooperative.

Village bank is an organizational form of providing micro-credit initiated by FINCA. It operates in a democratic way, and its main business is to provide loans at market interest rates. The difference between village banks and community cooperative banks is that village banks are not one person with one vote, but one person with more votes. The village bank group is a mutual aid group composed of 10-50 people. Members of the group meet once a week or twice a week, and the group will provide themselves with three basic services: (1) providing small loans for self-employment to start or expand their own businesses; (2) Providing savings incentives and ways to accumulate savings; (3) Establish a community-based system to provide mutual assistance and encourage self-reliance. Village bank team members guarantee loans to each other and adopt the principle of democratic centralism within the organization.

5. National microfinance wholesale fund model: PKSF, a microfinance wholesale institution in Bangladesh, is unique and a successful independent microfinance wholesale institution, which has been widely concerned and respected by the international microfinance industry. In order to centrally manage the poverty alleviation funds of domestic and foreign donor agencies and governments and promote the sustainable development of microfinance institutions, the Bangladeshi government established the Rural Employment Support Foundation (PKSF) on 1990. The foundation is registered as a non-profit joint-stock company with a registered capital of1700,000 US dollars, consisting of domestic and foreign grants and loans from international financial organizations, and its board of directors is composed of seven independent social celebrities. The chairman and two members are recommended by the government, and the other four members are elected by the board of directors consisting of 65,438+05 members (Professor Yunos, President of Grameen Rural Bank, is one of the directors). PKSF only provides capacity building and unsecured microfinance wholesale business to cooperative institutions that meet its standards. By the end of 2003, PKSF had accepted a total of 89 cooperative institutions/KLOC-0, and provided small loans of $654,380+65 million to 20,000 poor farmers through cooperative institutions. PKSF supervises cooperative institutions through on-site investigation, audit and submission of accounting statements, and helps them to make long-term development plans. The establishment of the national microfinance wholesale fund PKSF has promoted the popularization of microfinance industry standards and best practices, promoted the healthy competition and sustainable development of microfinance institutions, and greatly reduced the design cost of microfinance poverty alleviation funds at home and abroad. It is precisely because of the existence of an effectively competitive microfinance market that PKSF's cooperative institutions can constantly innovate and improve their efficiency, and PKSF's own sustainable development has also been guaranteed accordingly.