The Microfinance Rating and Assessment Fund, run by CGAP, aims to improve the quality, reliability, and availability of information on the risk and performance of microfinance institutions (MFIs). It promotes transparency, good governance and the flow of private resources to the microfinance industry. It aims to stimulate demand on the part of MFIs to contract external evaluations of their financial performance, and build a supply of competent rating and appraisal services at both local and international levels.