drawing on 12 case studies conducted in 11 countries in Africa, Asia and Latin America indicated that financial linkages are increasingly used by formal financial institutions (public or private) to target rural clients. A wide variety of less formal, often rural financial institutions are
the linkage partners. Initial evidence indicates that the partnerships seem to afford both partners the opportunity to overcome a weakness in what they can achieve on their own. But does this initial appeal translate into anything sustainable or replicable? Although it is certainly too early
to tell, financial linkages, while promising, are difficult to set up and manage, require strong NGO-MFIs as well as formal institutions and seldom result in a significant expansion of financial services beyond credit.