Board of Directors

The SPTF is governed by a Board of Directors (13 elected, up to 3 appointed to ensure regional diversity) with members from every region and a fixed number of elected representatives from each of the major stakeholder categories:

  • 2 donors
  • 2 investors
  • 2 MFIs: 1 NGO and 1 NBFI or bank
  • 3 MFI Associations: 1 Global, 1 Regional, and 1 National
  • 2 support organizations
  • 2 audit/rating/information services
  • Up to 3 appointed members to ensure regional diversity
  • SPTF Director is an ex-officio member

The Board of Directors members are as follows:


Social Investors

Direct Microfinance Providers


  • Microfinance Centre for CEE and the NIS (MFC), Ewa Bankowska
  • Microfinance CEO Working Group, Anne Hastings
  • Red Financiera Rural (RFR), Javier Vaca (below)

Support Organizations

Rating/Auditing/Information Services

 SPTF Director (ex-officio member)


Frank DeGiovanni

Frank DeGiovanni is Ford Foundation's director of Financial Assets. He leads the foundation's worldwide efforts to build financial assets for disadvantaged people with support through grants and Program-Related Investments (PRIs). His team makes grants through a focused set of initiatives on savings, individual asset development, Social Security reform, rural livelihood development and consumer financial services.

Prior to assuming his current position, Frank was the foundation's deputy director of Program-Related Investments, where he was responsible for creating and monitoring a diverse loan portfolio of organizations promoting community and economic development in the United States and internationally.

Before joining the Ford Foundation in 1991, Frank was associate professor and senior research associate at the New School for Social Research in New York City, where he researched and taught graduate-level courses in housing and community development, urban political economy and policy analysis. From 1985 to 1987, he was chairman of the Pratt Institute's Department of City and Regional Planning in Brooklyn, where he also taught and consulted on projects in housing and community development.

Frank has a Ph.D. and a master's in regional planning, both from the University of North Carolina at Chapel Hill.

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Hans Ramm

Hans Ramm is a development economist with a vocational banking background. He has been a practitioner in 'up-scaling' microfinance institutions and 'down-scaling' commercial banks for more than a decade. He was also board member of a microfinance institution and an investment vehicle. Hans joined the Swiss Agency for Development & Cooperation (SDC) in 2008 as focal point for financial sector development. 

At SDC, Hans is in charge of knowledge management in the areas of rural finance, micro and agricultural insurance, microfinance, and SME finance. He represents SDC at the SPTF, CGAP, and the MicroInsurance Network as well bilateral donors at the Steering Committee of the Smart Campaign. Hans is sitting on the Development Facility Committee of the European Fund for Southeast Europe since 2006. He has launched the Swiss Capacity Building Facility, a public-private partnership with the Swiss financial sector to promote financial inclusion in the South.

SDC has supported the social performance and responsible finance agenda from the onset by funding Cerise's Social Performance Indicators (SPI) initiative since 2003. This has resulted in building the Social Performance System of the MIX Market and the SPI assessment tools for microfinance institutions and investors. SDC has also funded the latest versions of the SPI assessment tools that are fully compatible with SPTF's Universal Standards for Social Performance Management. SDC has been co-funding the Rating Initiative to raise transparency in responsible finance practices by supporting the specialized microfinance raters in developing their Microfinance Institutional and Social Rating products. Furthermore, SDC has become a core funder of the SPTF in late 2012, and just started a Latin America initiative with the MIF/IADB to enhance the corporate governance of microfinance institutions as an essential dimension of responsible finance.

Hans has been carrying out SDC's work in mainstreaming social performance / responsible finance standards since 2008. He has participated in the SPTF annual conferences in Paris, Madrid, Berne (hosted by SDC and Liechtenstein), Den Bosch, and Jordan.

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Dina Pons

Dina Pons is currently working at Incofin as Investment Manager for Southeast Asia and Social Performance Coordinator.  With more than 350 million of assets under management, Incofin IM is a leading double bottom microfinance investment fund.  Incofin was one of the earliest investors to develop its own social performance evaluation scorecard.  Incofin IM also endorses the SMART Campaign, MFTransparency, and the Principles for Investment in Inclusive Finances (PIIFs) and has been an active member of the SPTF for the past four years. 

While at Incofin, Dina has worked on several SPM related projects: She first focused on a full revamping of Incofin's in-house social performance evaluation tool, called ECHOS.  With the aim of bringing the tool in line with the latest developments in the SPM sphere, Dina worked on the creation of a special section on Responsible Pricing, using the same format as MFTransparency, and also included a much more detailed section on Client Protection Principles by integrating the self-assessment questionnaire of the SMART Campaign into the ECHOS tool.  Since updating ECHOS, Dina has been in charge of training Incofin staff to ensure that all Incofin staff understand and implement SPM the same way. Following Incofin’s endorsement of the PIIFs, Dina was instrumental in developing Incofin’s internal action plan and in pushing for the progressive implementation of each principle in Incofin’s internal policies and practices.  Since June 2012, Dina has been working with two fellows from Oikocredit and Blue Orchard on the development and implementation of the research framework of the first study to assess over-indebtedness in Cambodia.  

Dina has been active in the SPTF for the past four years.  During her work as a social rater and then as Investment manager for Incofin, Dina participated in the two last SPTF annual meetings in Den Bosch and in Amman.  Dina has also been very proactive in participating in several SPM initiatives at the industry level and more specifically in SPTF working groups including the PIIFs Reporting Framework, the Avoid Over-indebtedness (AVOID) working group, and the ALINUS working group. 

On top of this, for the past year and half, Dina has also been leading a working group on Reasonable Covenants which produced the “Lenders' Guidelines for Setting Covenants in Support of Responsible Microfinance,” listing seven financial covenants and two social covenants that more than twelve major investment funds agreed to endorse and use as reference when setting up covenants in their loan agreements.

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Jürgen Hammer

After 15 years spent in different international investment banks (Deutsche Bank, Banco Santander, Crédit Lyonnais, CALYON) and different areas (Corporate Banking, Fixed Income and Securitization, Sales and Origination, Senior Banker) Jurgen Hammer joined the field of microfinance in 2006 with the personal objective of using his experience in financial markets to benefit the excluded and poor people in the developing world.  

In 2008, Jurgen joined the initiative of Crédit Agricole in France and played a leading role in setting up and launching the Grameen Credit Agricole Microfinance Foundation (GCAMF). Under the legal form of a Foundation, and reflecting the intentions of its founders, Crédit Agricole and Grameen Trust from Bangladesh, GCAMF has a double objective: to achieve its ambitious social goals on a sustainable basis.  The initiative has therefore included a full, SPI-based social performance evaluation in all its investment proposals presented to its credit committee from the beginning.  

Always with an eye towards improving efficiency and acting responsibly with its MFI partners, GCAMF gives high priority to larger, industry-wide initiatives of improved coordination and cooperation.  Jurgen has participated in SPTF work since 2009, playing an active role in the Social Investor Working Group and, since summer 2012, leading the ALINUS Investor Working Group that commits to support and motivate socially responsible investors to align their existing practices in social performance, due diligence, and monitoring with the Universal Standards for Social Performance Management.  

In addition, Jurgen continues his involvement as an independent Management Board member with JAIDA, the Microfinance Fund in Morocco he helped to set up, and plays an active role in promoting the inclusion of social performance evaluation tools in the microfinance sector in Morocco.

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Anne Hastings

Anne Hastings is the CEO of Sèvis Finansye Fonkoze (SFF). Anne served as the Director of Fonkoze, the foundation, since May 1996 and served as a founder and Board member of SFF since 2004. Anne is the recipient of many prestigious international awards recognizing her work in microfinance and in Haiti. 

Before coming to Haiti thirteen years ago, Anne had fifteen years of experience in providing strategic management services to executives as Senior Partner and Managing Director of Scanlon and Hastings, a management consulting company in Washington DC. Anne holds a PhD from the University of Virginia and an Honorary Doctorate in Business Leadership from Duquesne University. She completed research fellowships at the Brookings Institute and the Advisory Commission on Intergovernmental Relations, both in Washington, DC.

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Javier Vaca

Javier Vaca is Economist, MBA and Microfinance Specialist. Actually he is Executive Director of RFR, the National Microfinance Network of Ecuador comformed by 47 MFIs members representing a loan portfolio of USD. 2,473 millions, attending to more than 850,000 microenterpreneurs.

He has 20 years of experience, working with different type of MFI: NGO, credit unions and private banks. He has developed experience in areas like product design, market investigation, feasibility MFI projects, financial monitoring and analysis, rural finance, self-regulation, training design, financial regulation design, technology applied to microfinance, among others.

As Executive Director, he has developed some projects to strength MFI members of RFR in three objectives: policy advocacy and transparency; microfinance market development; and, training and technical assistance. He have been working with international donors and agencies such as IADB, CGAP, USAID, CAF, HIVOS, CITI, SEEP, RABOBANK, among others.

He has been speaker in some international conferences organized by Microcredit Summit, IADB, IFC, CGAP, SEEP, FAO, SPTF, CAF, Boulder Institute, among others; and he is teacher in Microfinance specialized course at University level.

In addition, he is part of the SEEP Network and FOROLAC Board of Directors, Truelift Steering Committee and member of the Social Performance Task Force.

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Vase Davaliev

Vase Davaliev is the Executive Director of Microcredit Foundation HORIZONTI, one of the leading poverty-focused MFI in Macedonia and Eastern Europe-Balkan region. He has been working at Horizonti  since its inception in 2000, first  as a microfinance project manager  within CRS (Catholic Relief Services), and then in 2005 after the successful project spin-off, Vase is appointed to lead the newly established NGO microfinance foundation in Macedonia.

In the last 7 years, Vase has been actively working on promoting SPM and applying USSPM in organizational practices. At the beginning, in 2007, he joined the MFC SPM Working Group and was active member for two years. The MFC SPM working group activities and outcomes was used for initial introduction and application of SPM concept within the organization. In 2011, with the support of its Founder- CRS, Vase lead and managed the Horizonti SPM project which main goal was to  define the organizational social mission, SP goals and objectives.  In addition, the project included the development and implementation of the internal tools for client's poverty measurement and dissemination of learning among other CRS MF Partners in the region. Vase's publication outlining the project outcomes is available here. Vase has been active member of SPTF since 2010, and has actively participated in the CEO working group during the SPTF Annual Meetings. 

Vase has an MBA degree in Management, and 15 years of experience in developing and managing microfinance organization with strong social mission and goals. He has been invited as panelist and facilitator to many microfinance events, including topics related to SPM.

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Ziad Al-Refai

Ziad Al-Refai is the Executive Director of Tamweelcom, a micro credit company in Jordan.  He has held this position since 2006.  Prior to becoming Executive Director of Tamweelcom, Mr. Al-Refai was the Finance and Administration Manager for the Micro Fund for Women, and prior to that, he was a Finance Manager for the United Nations Development Program (UNDP) in Jordan.  Mr. Al-Refai holds an MBA in Microfinance (Bergamo University, Italy), a  partially completed MBA in Financial Management (University of Jordan), and a BA in Accounting (University of Jordan).

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Ewa Bankowska

Ewa Bankowska works at the Microfinance Centre (MFC) as a Responsible Finance Expert. With a background in market research, her previous professional experience includes marketing research in the banking sector and market analysis for the B2B service global alliance. Ewa holds an M.Sc. in Quantitative Methods and Information Systems from the Warsaw School of Economics, and a postgraduate diploma in psychology of consumer’s behavior from Warsaw University.

Over the last ten years of her engagement in SPM, she worked with MFIs and microfinance associations in five continents, in more than 20 countries. Ewa facilitated the contribution of MFIs from the region to the development of SP Reporting Indicators, and MFC became one of the first networks with members reporting on their SP to the MIX. She field tested the first social audit tools available and supported the Smart Campaign in its first client protection assessments, becoming one of the very first certified assessors.

Ewa continues to consult MFIs in SPM institutionalization. She supports microfinance associations in their work on SPM promotion, including adaptation of SPM strategy development methodology for networks and co-facilitation of the Networks Working Group at SPTF. She is the co-author of Decision Tree for Networks and a number of case studies on SPM practice, both from the experience of MFIs and networks. She was involved in the creation and implementation of SP Fund for Networks. She has a comprehensive knowledge of SPM and understanding of challenges both from the perspective of an MFI and a Network. Additionally Ewa has managed microfinance projects related to gender empowerment, financial education and microfinance housing.

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Isabelle Barrès

In her current role as Director of the Smart Campaign, Isabelle Barrès leads global efforts to promote financial consumer protection and keep clients first in microfinance. She has over 20 years experience in microfinance and the formal banking sector. She helped create the MIX in 2002, and led its strategic initiatives until 2007. From 2007 to 2010, she managed Kiva¹s microfinance operations and developed its global strategy to maximize social impact.

Isabelle has been a key contributor to best practice publications on standards and financial performance monitoring, and is a founding member of Women Advancing Microfinance. She was a member of the SEEP Network Social Performance Working Group from 2003 to 2007. She has been a member of the Social Performance Task Force since 2005, and was the chair of the SPTF Common Social Performance Indicators Sub-committee from 2005 to 2007. She is now a member of the Truelift Microfinance Technical Review Committee, the Truelift Advisory Committee and the Cambodia Microfinance Association Advisory Board. Isabelle has a BA in Economics, an MBA and a post graduate degree in Development Economics. She is fluent in English, French and Spanish

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Calum Scott

Calum Scott is the Global Impact Director for Opportunity International, one of the leading microfinance support networks globally. In the last 7 years working for Opportunity International, Calum has designed, developed and tested an innovative framework for implementing SPM at Opportunity’s forty microfinance partners in twenty-two countries.

Calum is committed to pushing the industry SPM agenda towards greater use of data by microfinance practitioners in the field, for the benefit of the clients that microfinance seeks to serve. Opportunity’s SPM program is ambitious. Aiming to regularly collect social data from all clients and enabling the use of data as a management tool to improve both microfinance products, and how those services are provided.

In 2014 Calum oversaw the publication of Opportunity’s first annual Social Performance Report, detailing progress and results from Opportunity’s SPM strategy:

Calum has an economics degree, and ten years of experience working as an economist for the UK government on inward investment and health economics.

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Aldo Moauro

Aldo Moauro is a founding member and current shareholder of MicroFinanza Rating (MFR). As a member of the Board of Directors and Executive Director of MFR, Aldo directly supervises the activities of the Management Team, Social Rating Department and Rating Committee Unit. He chairs the Board of Directors of all MFR subsidiary companies, which are located in Ecuador, Bolivia, Kenya, Kyrgyz Republic and the Philippines.

He has carried out more than 100 rating and assessment missions worldwide, chaired more than 300 rating committees and leads the technical evolution of MFR services and assessment tools. Aldo is a member of the SMART Campaign Certification Committee and has been involved in several leading initiatives in the microfinance sector. He is often invited as a speaker at microfinance conferences and as a teacher in training courses (like the Boulder MFTP), especially on topics related to microfinance institutional and social rating, credit and social rating, risk management, social performance assessment, client protection, corporate governance and regulation and supervision in microfinance.

Before joining MFR Aldo worked for almost four years at ETIMOS, an international financial consortium, and was in charge of the microfinance investments portfolio.

A graduate in Economic Studies, Aldo has directed his professional preparation and experience toward SMEs and microfinance. He pursued his specialization by attending the Boulder Microfinance Training Program, and the Goethe Institute in Frankfurt training on the Theoretical and Technical Innovations in Microfinance and Rural Finance.

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Laura Foose

Laura Foose has been the Director of the Social Performance Task Force since 2005.  She has seventeen years of experience in policy design and advocacy promoting microfinance development and poverty alleviation in developing and transitional countries.  She has also designed microfinance projects and conducted evaluations of MFIs.  As Secretariat of the Microenterprise Coalition at FINCA for five years, Ms. Foose represented microenterprise practitioner and advocacy organizations to donor agencies, the U.S. Administration, and members of Congress.  For 6 years, Ms. Foose was a working group facilitator for the SEEP Network and worked extensively in the areas of poverty assessment/outreach.  Ms. Foose is a professor of microfinance at Georgetown University; a co-founder of Woman Advancing Microfinance; on the Taxonomy Committee of “The Impact Reporting and Investment Standards (IRIS) project” of The Global Impact and Investing Network; on the Steering Committee of Truelift, and on the Management Board of The Rating Initiative.  Ms. Foose holds an M.S. in Foreign Service from Georgetown University, with specializations in international economics and business, and a B.A. from Brown University, where she graduated with a double major in economics and international relations.  She speaks German and is based in Washington, DC.

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