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( ).]2007 [ . 12 2006 :8 6 5 4.9 4 3.0 3 2.3 2 1.5 1.5 1.0 1.2 1 0 . 2006 554 : )( 21 . ) 4.9( [ .2006­2003 9 . . . ].15 . . ) ( 60 11.4 . . .2006 . 33.7 7.9 . . : 2006 21 95% 75% 25% 5% 22.4 3.9 2.3 0.7 0.3 1.1 0.9 0.9 0.9 0.1 2.7 2.0 1.6 0.8 0.3 10.0 3.6 2.2 1.2 0.8 2.0 1.8 1.8 0.2 0.0 2.7 2.4 1.7 0.4 0.0 5.7 2.7 1.6 0.9 0.2 13 2006­2003 :9 4 3.7 3.5 3.4 3.1 3 2.5 2.2 2.3 2 1.9 1.9 1.6 1.5 1.5 1.5 1.3 1.1 1 0.9 0.5 0.3 0 2006 2003 . 175 : . . .)economy of scale( ( ) . . : . : . 2000 . . : . . . . . 14 . . . 22 175 . 2006 2003 . 2003 15.6 1 .2006 12.7 . .2003 . 2003 .2006 ­ . . ­ . . . . . . . 8­2 2­1 . 1 . . . . . . . . . 100 22 . . . ( . ) . . 15 ­ :10 20 18 17.7 16 14 13.0 12 10 8 6 4 2.1 2 1.4 0 2006 : . . . BankScope . . 5 ( . . 23.) 11 . . . . 10 . . . . 24 . : . : ) ( . ­ ­ . . 23 . 127 24 . . - 16 2006 :11 150 125 100 75 50 25 0 ­25 ­50 ­75 ­100 ­125 2006 : . . 11.2 . . . 11 . ( 2006 ) . . 35 - . ­ . . . . . . 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( . ) 2- . . . . 2006 :1- 90 80 70 60 50 40 30 20 10 0 . 555 : . ) / ( .) 27 / ( 23 / :2- 70 60 50 40 30 20 10 0 0 20 40 60 80 100 120 140 160 / / 1,144 : ( . .2006­1999 .) . . . : 3 . . . / :3- 70 65.0 60 55.2 53.6 52.2 53.0 50 40 30 20 10 0 1st (0­2k) 2nd (2­5k) 3rd (5­10K) 4th (10­30K) 5th (30K +) / 1144 : . .) ( .2006­1999 24 . 2000 ( . . )5- : . . . 8­2 2­1 . . 1 . . 4- . . ­ - . . . : . . 100 - . 4- . - 2006­2003 :4- 25 21.9 23.2 18.8 18.5 20 15.6 15.9 16.7 14.0 13.8 15 12.7 11.1 11.311.9 10 9.0 5 0 ­1.0% ­1.0% ­1.7% ­1.6% ­0.6% ­3.1% 0.2% 2006 2003 . 2006 2003 175 : 25 / :5- 70 60 50 40 30 20 10 0 0 2 4 6 8 10 12 14 16 18 20 / 1144 : .) ( .2006­1999 . . 28 5- . : 4- . . . . . . . . 6- 2006­2003 . 28 . . . ( . ) . . 26 :6- 60 50 49.8 40 37.4 37.9 30 25.7 20 15.4 12.5 14.0 10 7.85.9 9.4 4.22.7 2.2 1.9 0 ­1.0% ­4.1% ­0.6% ­4.1% ­1.5% ­0.5% ­0.1% 2006 2003 . 175 : . ­ . . . . . . . . . . 6- . . . 27 Gonzalez-Vega, Claudio, and Villafani-Ibarnegaray. 2007. 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Microfinance Institutions )MFIs(: The Case of Wright, David, and Dewan Alamgir. 2004. "Microcredit Operating Expenses." MIX Discussion Paper No. 2 Interest Rate in Bangladesh: Capping vs. Competition." .Washington, D.C.: MIX, forthcoming Unpublished. http://www.microfinancegateway.org/ Gonzalez, Adrian, and Richard Rosenberg. 2006. content/article/detail/23259. "The State of Microcredit--Outreach, Profitability and Poverty Findings from a Database of 2600 Microfinance Institutions. Presentation at World Bank Conference, "Access to Finance," May 30. 2009 / 15 . . www.cgap.org. CGAP 1818 H Street, NW MSN P3-300 Washington, DC 20433 USA 202-473-9394 : 202-522-3744 : : cgap@worldbank.org © CGAP, 2009 )Samer Badawi( )Xavier Reille( )Blaine Stephens( : )Richard Rosenberg( )Ignacio Mas( )Elizabeth Littlefield( BankScope )Jeanette Thomas( )Adrian Gonzalez( )Christoph Kneiding( ( . )Shushma Narain( .)Anna Nunan( .) )Brigit Helms( : . 2009 : : 15