Quantitative.

BlueOrchard evaluates the social and environmental impact of all potential investees of JAWEF using its proprietary impact management tool, Social Performance Impact Reporting & Intelligence Tool (SPIRIT). The tool, which is aligned with the International Finance Corporation�s Operating Principles for Impact Management, comprises seven dimensions, SPIRIT is used to assess and monitor investees throughout the investment cycle. During the investment process, the Portfolio Manager uses SPIRIT to assess the investee�s i) strategic intent (e.g, alignment between the investee�s business strategy and impact objectives), ii) balance between financial and impact returns, and iii) contribution to the achievement of its impact objectives.

BlueOrchard collects impact data on a quarterly basis using its standard social performance indicators. These include metrics such as: percentage of end clients that are female, percentage of MFIs with a minimum of 60% female clients, percentage of rural clients, and total number of microentrepreneurs reached by MFIs in the portfolio. BlueOrchard also developed specific impact targets for JAWEF, including increasing the number of female entrepreneurs reached
and the quality of services provided (e.g., by developing tailored financial products and training sessions for women).