In the wake of recent donor enthusiasm for microfinance programmes targeting women, some researchers and practitioners are beginning to question the degree to which microfinance services in themselves benefit women. Emerging is a new scepticism of the achievements and potential of microfinance on its own and growing interest in self-managed programmes. There is rapid innovation at programme level and an increasing focus on participation. These trends are combined with a growing recognition of the need to address macro-level constraints. The solutions proposed have been varied and are far from presenting a coherent strategy for poverty elimination and empowerment. Nevertherless there are now spaces for introducing policy changes which may increase the contribution of microfinance to both these development aims. An essential component of these policy changes must be systems and structures for learning involving women themselves, programmes and donors. This must go beyond the current enthusiasm for impact assessment, even participatory impact assessment. It must be based on the priorities and needs of women, linking these into programme level learning and to donor policy formation. This book proposes a framework for sustainable learning which will in itself be empowering, and discusses the continuing challenges which will have to be faced.