All donors and investors use contracts to establish legal relationships with the partners they fund. Typically, these contracts define the permitted use of the funds and include general suspension or termination clauses. Unfortunately, many agreements do not include project-specific performance...

In microfinance, experimentation with loan guarantees began largely as an attempt to demonstrate to local banks that Microfinance Institutions (MFIs) are creditworthy. Though loan guarantees are far less common than other funding instruments, such as debt, equity, and grants, they are beginning...