The Opportunities for the Majority’s (OMJ) initiative within the Inter-American Development Bank (IDB Group) was created to promote market based solutions to address poverty challenges in Latin America and the Caribbean and to prove that Base of the Pyramid (BOP) business models generate both social and commercial returns on investment.
These investments, through commercial debt or credit guarantees, must be market based, commercially viable, replicable, scalable, innovative, and generate social and economic benefits to the BOP across LAC. Moreover, OMJ's mandate is also to be an incubator and promote the growth of the impact investing industry by leveraging additional capital from other investors, and by sharing its knowledge on BOP markets.
- Enable IDB management to track progress of projects more objectively through quantitative and qualitative
indicators, particularly to capture social return.
- Allow for the gathering of data on individual projects across sectors and geographies and for the aggregation of
statistics to report on results and performance to internal and external stakeholders.
- Enable comparison of results across projects with similar interventions through the use of standardized
- Allow organizations to benchmark performance relative to other impact investments that have adopted IRIS.
- Help set social and financial expectations for the organization as a whole and for partner companies, thus
guiding strategic decisions regarding projects and potential partnerships.
For more information about OMJ's experiences designing and implementing its impact management program, read their
IRIS Use Case.
Other Impact Measurement Tools
OMJ has developed its own set of complementary metrics to use alongside IRIS metrics. PULSE is used to manage its loan and grant portfolio. OMJ’s investees have portals on PULSE to ensure streamlined, efficient, and investee-friendly reporting. Moreover, the unit is preparing its first in depth Impact Evaluations, which will also use and feed many IRIS indicators.