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We studied the effects of a pilot project that strengthened savings incentive mechanisms. The project was established by The Small Enterprise Foundation (SEF), a leading microfinance institution based in South Africa. The program introduced a savings stimulus in the form of a Goal Card: clients subscribing to this (non-coercive) tool were required to identify a savings goal and to commit to regular payments to reach it. The experiment had a quasi-natural approach as it was implemented by SEF in non-randomly selected locations. Difference-in-differences estimates show improved savings habits among those of the foundation’s customers who were involved in the program, compared to the counterfactual that are identified using propensity score matching. The effect of the program manifested in its second semester, suggesting a persistent change of habits but a slow accumulation of savings. We conclude that asking microcredit customers to identify a savings goal and commit to a regular savings amount to achieve it is a promising savings incentive mechanism.

A better understanding of loan repayment behavior of borrowers can contribute to the development of microfinance. This paper investigates the repayment performance of borrowers of a nonprofit Indian microfinance institution, the Indian Institute for Mother and Child – IIMC, using a novel data set. We collected raw data on more than 1600 borrowers, covering a period of more than three years. The data collection focused on the installments of those borrowers who at first received a loan lower than the loan limit, but then reached the loan limit within the time span considered. The final sample for the empirical analyses is homogeneous in terms of borrowers’ characteristics and includes the installments of 373 loans. We focus on a relatively neglected issue in the microcredit literature, viz. the motivation of the borrower for receiving future loans. In addition to borrowers’ characteristics, we analyze the motivational issues that may influence the probability that the loan is fully or partially repaid, and the time horizon over which it is repaid. Empirical results show that the repayment rate improves as borrowers get closer to the loan limit, which is the maximum available loan. In other words, motivation for reaching the maximum loan level is positively associated to the repayment performance.

Summary Objective The aim of this study was to describe a case of acute acalculous cholecystitis occurring in the course of primary Epstein–Barr virus (EBV) infection. Methods The clinical features of the case were analyzed and compared to those of three other similar cases reported in the international literature. Results All cases occurred in European females with cholestatic hepatitis, presented with gallbladder wall thickening, and recovered uneventfully without the need for surgical intervention. Conclusions Acute acalculous cholecystitis may occur during the course of acute EBV infection, especially in patients with cholestatic hepatitis. Clinicians should be aware of the possible involvement of the gallbladder during EBV infection to avoid unnecessary invasive procedures or the overuse of antibiotics.