About International Finance Corporation (IFC):
The International Finance Corporation (IFC), a member of the World Bank Group, supports private sector development, mobilizes private capital, and provides advisory and risk mitigation services to businesses. IFC website: http://www.ifc.org

About Inecobank:
Inecobank, a microfinance bank based in Armenia, was registered in 1996 with the Central Bank of Armenia. Inecobank provides comprehensive banking services in order to foster growth of microenterprises and small and medium-size enterprises. IFC is a shareholder of Inecobank, holding 10 percent of its shares. Inecobank website: http://www.inecobank.am/

Bibliography:
IFC: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29
Inecobank: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Inecobank

Additional Resources:
[1] Original article: http://www.ifc.org/ifcext/eca.nsf/Content/SelectedPR?OpenDocument&UNID=7956BC05D467AAC3852576B60054FD0E
[2] Mix market data on Inecobank: http://www.mixmarket.org/mfi/ineco

The goal of RCST was to provide affordable and accessible microfinance services to poor communities in the Tigray region. Due to the rapid growth of its operations, RCST formally registered in 1997 with the National Bank of Ethiopia, the country’s central bank, and began operation as an MFI under its new name Dedebit Credit and Savings Institution.

The mission of DECSI is to provide microfinance services to individuals not able to access the formal financial sector. The ownership structure of DECSI is 25 percent government-owned and 75 percent owned by nongovernmental organizations (NGOs), farmers associations and women and youth associations. By the end of 2008, DECSI had a gross loan portfolio equivalent to USD 145.8 million and approximately 464,000 borrowers. According to DECSI’s own figures, about 51 percent of its clients are individual borrowers, and the remaining borrowers consist of “solidarity groups” and village banking societies. The average loan balance per borrower is equivalent to USD 314. By 2008, DECSI had a total deposits equivalent to USD 40 million and approximately 261,000 depositors. DECSI maintains 139 offices which employ 1,887 staff.

In 2008, DECSI’s total assets were equivalent to USD 185.8 million. DECSI’s overall financial performance in 2008 was measured by a return on assets (ROA) of 2.06 percent as compared to ROA of 3.85 percent in 2007. Likewise, DECSI’s return on equity (ROE) reflected this decrease in 2008 of 10.51 percent from 18.82 percent in 2007.

The products and services provided by DECSI fall into three categories: loans, voluntary savings and fund transfer services. DECSI’s loan products are as follows:

– General Loans have a maximum loan amount of ETB 5,000 (USD 392) and a maximum loan term of 12 months. General loans are typically given for income generating activities, such as agriculture, trade and handicrafts.
– Agricultural Package Loans have a maximum loan amount of ETB 5,000 (USD 392) and a maximum loan term of 12 months. These loans provide rural households, that qualify under government-sponsored “Agricultural Package Program, food security at the household level by financing the purchase of dairy cows, dairy goats, beehives, water pumps and poultry.
– Agricultural Input Loans have a maximum loan amount of ETB 350 (USD 27) and a maximum loan term of 8 months. These loans are disbursed to Agricultural Extension Program beneficiaries for the purchase of inputs, such as soil fertilizer, pesticides and seeds. The government sponsored Agricultural Extension Program provides training to farmers, promotes agricultural research and disseminates technology to farmers.
– Civil Servant Loans have a maximum loan amount of ETB 8,000 (USD 628) and a maximum loan term of 24 months.
– Micro and Small Enterprise (MSE) Loans have a maximum loan amount of ETB 30,000 (USD 2,356) and a maximum loan term of 36-48 months.
– Housing Loans information is not available.

DECSI offers two types of savings accounts: compulsory deposits of group and village center savings and voluntary deposits from individuals. DECSI’s money transfer services also cover pension payment services for retired military and civil personnel.

A study commissioned in 2003 by DECSI and Norwegian People’s Aid found that DECSI clients reported that their life situation had improved over five years as compared with non-clients. Compared to non-clients, DECSI clients found improvement in terms of income, consumption and assets. DECSI clients also seemed to have more food security and were less vulnerable to emergencies. Based on the constraints of the study, it was difficult to determine the economic and non-economic impact of DECSI at the community level. However, the study concluded that the existence of DECSI could be linked to increased agricultural productivity, improved market access and a reduction of interest rates charged by moneylenders.

Mr. Ataklti Kiros is the general manager of DECSI. In July 2008, Mr. Kiros gave a lecture titled, “Institutional Performance and Challenges in financing the Rural Value Chains,” at the East African Sub-Saharan workshop co-hosted by the African Rural and Agricultural Credit Association (AFRACA) and the Commercial Bank of Ethiopia. DECSI receives funds and loans from international donors, government agencies and local sources. Donors of DECSI include the following: Norwegian People’s Aid, International Fund for Population Development (IFPD), Glimmer of Hope, RUFIP Scheme and the International Agricultural Development Fund. DECSI has loans from the Development Bank of Ethiopia and the Commercial Bank of Ethiopia and receives matching funds from the Ethiopian government, including the Bureau of Trade and Industry and the Food Security Co-ordination Office.

Additional Resources:
[1] DECSI website unavailable, however, information available on Ethiopian trade association website: http://www.bds-ethiopia.net/finance/dedebit.html

[2] Microfinance Information Exchange, Inc. (MIX) report on DECSI: http://www.mixmarket.org/mfi/decsi; DECSI Audit Report, Year-End 2008: http://www.mixmarket.org/sites/default/files/DECSI_AFS_08.pdf

[3] REST website: http://www.rest-tigray.org.et/index.php?option=com_content&view=article&id=71&Itemid=65

[4] Norwegian impact study on DECSI: http://english.nupi.no/Publications/Books-and-reports/2004-2000/Credible-Credit.-Impact-Study-of-the-Dedebit-Credit-and-Savings-Institution-DECSI-Tigray-Ehtiopia
[5] CGAP pilot on Ethiopia: http://www2.cgap.org/p/site/c/template.rc/1.26.11123/

Summary of Event:
This year’s conference, “Overcoming Challenges and Creating Opportunities,” will convene professionals from the mainstream financial sector and the microfinance industry, including senior managers of microfinance institutions (MFIs) and social and commercial investors. Participants will have the opportunity to network, discuss the lessons learned from the past year and focus on the way forward, and sharing knowledge across the converging industries of microfinance and finance.

Panel topics will include:
– Regional updates on the effects of the financial crisis with a prognosis for 2010;
– Questions on what the experiences of 2009 have taught us about the responsibilities of lenders and MFIs in setting appropriate lending standards;
– Reflections on return expectations in microfinance;
– Insights on identifying the next generation of rising MFIs;
– Assessment of the role of microfinance as a socially responsible investment.

Background on Organizer(s):
Women’s World Banking (WWB) is a global network of 46 microfinance providers and banks, working in 30 countries to bring financial products and services to low-income entrepreneurs, especially women. The network serves 9 million microentrepreneurs directly, and another 14 million indirectly through its bank partners and other regional networks. WWB is supported by an international team of experts based in New York that delivers expertise in product design and distribution, access to capital markets, and customer care and insight. WWB website: www.womensworldbanking.org.

The event sponsor, J.P. Morgan, is a global financial services firm with operations in more than 100 countries. J.P. Morgan offers the following services: asset management, investment banking, private banking, treasury and securities services, and commercial banking. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a global financial services firm with assets of USD 2.0 trillion. J.P. Morgan website: http://www.jpmorgan.com

Registration:
Register will begin Monday, February 8, 2010, available online: http://www.swwb.org/cmc2010.

About the Presenters: Information unavailable.

Who Is Invited to Attend:
Representatives from microfinance institutions (MFIs) and the financial sector, including social and commerical investors.

For additional information, please go to:
http://www.swwb.org/cmc2010
Submit Your Event: http://microfinanceassociation.ning.com/events
Event Type: (Conference, cocktail, training, workshop, dinner, lecture)
Event Starts (time and day):
Event Ends (time and day):
Location:
Street:
City/Town:
Website:
Phone:
Organized By:

About BPI Globe BankO:
BPI Globe BanKO is a shared venture between the Bank of the Philippine Islands, Ayala Corp. and Globe Telecom, Inc. with an office in Greenhills, San Juan district of Manila, Philippines. BPI Globe BankO has authorized capital of PHP 500 million (USD 10.7 million) of which P350 million (USD 7.4 million) is paid up. BPI Globe BankO website: unavailable.

About Bangko Sentral ng Pilipinas (BSP):
Established in July 1993, Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. BSP has eighteen branch offices and three regional offices that conduct cash operations and cash administration. BSP participates in advocacy programs concerning microfinance, financial education and consumer protection. BSP website: http://www.bsp.gov.ph

Bibliography:
BPI: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BPI+Globe+BanKO
BSP: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bangko+Sentral+ng+Pilipinas+%28BSP%29%2C

Additional Resources:
[1] Original article: http://www.bworldonline.com/main/content.php?id=5235
[2] Related article: http://www.mb.com.ph/articles/240527/bpi-globe-banko-sets-p1-b-microfinance
[3] Bank of Philippine Islands website: http://www.bpi.com.ph/

About ACCION International:
ACCION International is a private, U.S. based nonprofit organization with the mission of giving people the financial tools necessary for poverty alleviation, such as microenterprise loans, business training and other financial services. ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION’s partner microfinance institutions today are providing loans as low as USD 50 to poor men and women entrepreneurs in 23 countries in Latin America, Asia, Africa and the United States. In the last decade, ACCION partners have disbursed more than 28.5 million loans totaling USD 23.4 billion; 97 percent of the loans have been repaid. ACCION website: http://www.accion.org

Bibliography:
ACCION International: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ACCION+International

Additional Resources:
[1] Original article: http://www.prnewswire.com/news-releases/accion-gets-green-light-from-brazils-president-to-launch-new-microfinance-institution-in-amazonas-82599372.html

About Association of Microfinance Institutions of Kenya (AMFIK):
The Association of Microfinance Institutions of Kenya (AMFIK), is an umbrella organization for Kenyan microfinance institutions (MFIs), which was established in 1999 in order to strengthen Kenyan MFIs’ lobbying efforts with respect to government policy formation and to aid local MFIs in networking with other local and international organizations. AMFIK website: http://www.amfikenya.com/

About Central Bank of Kenya (CBK):
Established in 1966, the Central Bank of Kenya is the central banking authority. In 2008, the Central Bank of Kenya operationalized the Microfinance Act of 2006. The Act paved the way for the licensing of microfinance institutions (MFIs) that take deposits from the public. Prof. Njuguna Ndung’u was appointed Govenor of Central Bank in March 2007. CBK website: http://www.centralbank.go.ke

Bibliography:
AMFI: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Association+of+Microfinance+Institutions+of+Kenya+%28AMFIK%29
CBK: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Kenya+%28CBK%29

Additional Resources:
[1] Original article: http://www.businessdailyafrica.com/-/539552/850678/-/6b6u96/-/
[2] Related article: http://www.capitalfm.co.ke/business/Kenyabusiness/Kenyan-MFIs-ready-for-agency-banking-3702.html