The International Finance Corporation (IFC), a member of the World Bank, is investing USD 4 million in equity in Sogebank S.A. of Haiti to finance micro, small, and medium enterprises (MSMEs) [1]. According to the IFC’s Summary of Proposed Investment, Sogebank is the largest commercial bank in Haiti with total assets of approximately USD 750 million [2]. It has a branch network of 42 branches [1]. Its activities comprise of retail and corporate banking, microfinance, remittance distribution, and factoring, which operate as independent businesses through subsidiaries [2]. Information on the percentage of its business delegated to microfinance at Sogebank is not publicly available.

As reported in a previous MicroCapital story, the IFC signed an agreement in April 2009 with Sogebank to support financing of microenterprises and small and medium enterprises [5]. This was aimed at providing access to financial services for 2,500 MSMEs over a five-year period. At the time, the role of the IFC was only advisory [5].

Robert Moscoso, Sogebank’s Chairman and Chief Executive Officer, stated, “This investment sends a strong signal about IFC’s commitment to support a key financial player in expanding access to finance to essential, productive sectors in Haiti, a country where only one percent of the population has access to formal financing” [1]. The IFC cites that micro, small, and medium enterprises employ about 80 percent of the local workers [1]. According to the World Bank, as of 2007, Haiti has a population of 6.6 million [8]. For further background information on Haiti’s microfinance environment, there is a MicroCapital story discussing the Economist’s 2008 microfinance report for Latin America and the Caribbean [6]. In this report, it explains that Haitian banks engage in microfinance either through a specific department or a separate entity constituted as a non-bank financial institution [6].

Created in 1956 and based in Washington, DC, the International Finance Corporation, a member of the World Bank Group, fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments [3]. Its net worth at the end of 2008 was USD 18.3 billion [3, 4].

Sogebank S.A. was founded in 1986 by a group a Haitian businessmen who took over the operations of the former Royal Bank of Canada, which was present in Haiti since 1917 [2]. According to the IFC Summary of Proposed Investment, Sogebank has market shares of 28 percent and 34 percent in loans and deposits respectively [2]. The shareholding of Sogebank is fragmented among several Haitian families, with no single individual shareholder permitted to hold more than 15 percent [2]. The three largest individual shareholders that own more than five percent of the capital are Jean-Claude Nadal (9.2 percent), Pascale & Ralph Delain (6.4 percent), and Roger Jaar (5.2 percent) [2].

Make your comment at:

http://microfinanceassociation.ning.com/forum/topics/deals-in-microfinance-the

By Uyen Tran, Research Assistant

Bibliography:

[1] International Finance Corporation, Press Release: http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=1C17FAEF181B94AB852575FA004F8EF5

[2] International Finance Corporation, Summary of Proposed Investment: Sogebank: http://www.ifc.org/ifcext/spiwebsite1.nsf/1ca07340e47a35cd85256efb00700cee/01C8F676B11236AA852573E50080AD9E

[3] International Finance Corporation: http://www.ifc.org/

[4] International Finance Corporation, 2008 Annual Report: http://www.ifc.org/ifcext/media.nsf/Content/AR2008

[5] MicroCapital.Org article, 6 May 2009: “International Finance Corporation (IFC) Worldwide Microfinance Investment Deals March and April 2009 of $51m and EURO 7m” http://www.microcapital.org/microcapital-story-international-finance-corporation-ifc-worldwide-microfinance-investments-deals-march-and-april-2009-of-usd-51m-and-euro-7m/

[6] MicroCapital.Org article, 7 July 2009: “The Unaddressed Need for Microfinance Oversight and Customer Protection in Haiti” http://www.microcapital.org/microfinance-story-the-unaddressed-need-for-microfinance-oversight-and-customer-protection-in-haiti/

[7] Sogebank: http://www.sogebank.com/# (available in French)

[8] World Bank: Haiti Data Profile http://ddp-ext.worldbank.org/ext/ddpreports/ViewSharedReport?REPORT_ID=9147&REQUEST_TYPE=VIEWADVANCED

Event Description: Conference

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Cost: Not available. Please inquire with the contact person provided below.

Summary of Event: The two-day conference aims to discuss whether and how financial inclusion can be strengthened, share and learn from individual country experiences, and establish a roadmap that will define the roles and responsibilities of all stakeholders.

Background on Organizer: This event is organized by German Development Cooperation, the World Bank, DFID and USAID.

Founded in 1975, the German Development Cooperation is an international cooperation enterprise for sustainable development with worldwide operations, and provides solutions for political, economic, ecological and social development in a globalized world [2]. It also operates on behalf of other German ministries, the European Commission, the United Nations and the World Bank [2].

The World Bank was created in 1944 and based in Washington, DC [3].  It is an international financial institution that provides financial and technical assistance to developing countries [3]. Its mission is to help developing countries and their people reach the goals by working with partners to alleviate poverty [3].

The United Kingdom Department for International Development (DFID) is a separate government department established in 1997 to deal with world poverty [4]. It manages Britain‘s aid to poor countries [4]. It works with governments of developing countries, charities, businesses and international bodies, including the World Bank, the UN agencies and the European Commission [4].

Created in 1961, the United States Agency for International Development (USAID) is an independent federal government agency that receives overall foreign policy guidance from the Secretary of State [5]. It supports long-term economic growth and advances U.S. foreign policy objectives by supporting economic growth, agriculture and trade, global health, democracy, conflict prevention, and humanitarian assistance [5].

Event Themes and Discussion Topics:

The key issues include:

• Interdependence of financial capability and consumer protection;
• Awareness creation and social marketing to behavioral change;
• Approaches to promoting financial capability:
• Need for responsible finance;
• Development of national frameworks.

Who Is Invited to Attend: Regulators, supervisory institutions, technical staff for financial literacy, policymakers, large employers, regional and sector organizations, representatives from civil society, media representatives, business schools at national universities, and development partners.

Important Dates: Please book hotel room by 1 August 2009 and reference “Making Finance Work for Africa”.

Online Registration Address: http://www.mfw4a2009.ghanaconference.com

You can log onto the registration page using the following information:

Username: user

Password: mfw4a2009

An automatic e-mail will be sent to you confirming your registration.

For additional information, please contact:

Contact Name: Ms. Britta Kohlbrecher

Telephone/Location: No direct phone number was provided.

Email: mfw4a@gtz.de

Submit Your Event: http://microfinanceassociation.ning.com/events

Event Type: Conference

Event Starts: 8 September 2009; time not available

Event Ends (time and day): 9 September 2009; time not available

Location: La Palm Royal Beach Hotel

Street: No. 1 Bypass

City/Town: Accra, Ghana

Website: http://www.mfw4a2009.ghanaconference.com/; and http://www.microfinancegateway.org/gm/document-1.9.36426/MFW4A%20Conference%20Brochure%20ENGLISH.pdf

Phone: no direct phone number available

Organized By: German Development Cooperation, the World Bank, DFID and USAID

By Uyen Tran, Research Assistant

Bibliography:

[1] Promoting Financial Capability and Consumer Protection – A Step Forward Towards Financial Inclusion in Africa: http://www.microfinancegateway.org/gm/document-1.9.36426/MFW4A%20Conference%20Brochure%20ENGLISH.pdf

[2] German Development Fund: http://www.gtz.de/en/index.htm

[3] World Bank: http://www.worldbank.org/

[4] UK DFID http://www.dfid.gov.uk/

[5] USAID: http://www.usaid.gov/

Written by David McKenzie for the World Bank, released May 2009 as a policy research working paper, 31 pages, available at: http://collab2.cgap.org//gm/document-1.9.35106/Impact%20assessments%20in%20finance%20and%20private%20sector%20development_what%20have%20we%20learned%20and%20what%20should%20we%20learn.pdf

In this paper, the author explores the proposition that the area of finance and private sector development can benefit from impact evaluations [1]. Impact evaluations can assess the efficacy of a program or policy by comparing it against a counterfactual of what would have happened without the program or policy [1]. He argues that this is one of the most important tools that can be used along with economic theory for understanding “what works” [1].

The author encourages the use of impact evaluations by examining the feasibility of such impact evaluations, and analyzes the lessons of these evaluations for policymakers and practitioners [1]. He uses examples from randomized experiments, and explains that randomized experiments offer many advantages for evaluation [1]. For instance, they ensure that the only reason why some firms, consumers, or other units are subject to a policy or program and others are not is pure chance [1]. Moreover, the results are easy to communicate to policymakers [1]. He highlights policy and implementation lessons from four areas where impact evaluations are emerging: 1) microenterprise, 2) microfinance, 3) rainfall insurance, and 4) regulatory reform [1].

Microenterprise: The paper examines the issue of raising the income of the self-employed via microenterprises. He finds that a central question for policymakers is how to raise the income for poor businesses, and whether the typical microenterprises owned by the poor have any ability to grow [1]. He provides examples of randomized experiments that test the efficacy of grants, yet does not provide any treatments on loans. The experiments show that grants worki to raise income for the average microenterprise owner [1]. However, these impact evaluations can also show what does not work.  For example, even though grants may be effective, they are only effective for male business owners, not women [1]. It also shows that one-time grants may help raise the income of male business owners, but does not necessarily lead to employment creation [1].

Microfinance: Second, the author assesses the microfinance sector, and questions the archetypical model of microfinance as the best way to expand access to finance to the poor and to improve the small business sector [1]. The author mentions that the most famous example of microfinance is that of the Grameen Bank, and the model of microfinance most strongly associated with it is group lending to women at low interest rates [1]. He cites the high ratio of loans to women and the reliance on group liability as possible vulnerabilities in the microfinance model [1]. First, he suggests, as evidenced in his samples, that more credit products tailored to the urban male should be developed with less focus on women [1]. Second, based on randomized tests, group liability does not necessarily mitigate moral hazard, and could end up being more costly to the group [1]. Also, the notion that loans should have lower interest rates is challenged, which is at the heart of the debate on the commercialization of microfinance [1].

For reference purposes, there are MicroCapital stories that cover this topic. A study called “The Miracle of Microfinance? Evidence From a Randomized Evaluation”, by Abhijit Banerjeey, Esther Duoz, Rachel Glennersterx, and Cynthia Kinnan, which was covered in a MicroCapital Paper Wrap-Up, also touched upon the issue of the efficacy of microfinance. The authors conclude that microfinance has only a small effect on the fortunes and almost no effect on the lifestyles of poor people after the opening of a microfinance institution (MFI) in their neighborhood based on randomized evaluations [2]. They find that there is some difference, although not a major difference, in business profit and consumption patterns between households that received microfinance and those without [2]. Also, a recent report by the Economist, which was covered by MicroCapital, further finds that while impact assessment is not a new priority in the microfinance sector, there are few credible estimates of the extent to which microcredit actually reduces poverty [3].

Rainfall insurance: Next, the paper evaluates microinsurance, and the author explains that the reluctance from the poor to take credit is because of the lack of insurance in economies where there are frequent rainfall variations [1]. Studies indicate, however, that potential clients do not take credit even if there is an available insurance program because of the price and the fact that they are unfamiliar with the insurance program and provider [1]. Therefore, these would be issues that should be addressed in moving forward with microinsurance [1].

Further discussion on microinsurance is available in a previous MicroCapital Paper Wrap-Up, which reports on a study called “Insurance, Credit and Technology Adoption: Field Experimental Evidence From Malawi,” by Xavier Gine and Dean Yang [4]. The authors determine whether farmers who are insured against production risk have a greater demand for loans in order to invest in new hybrid seed technology than farmers who are uninsured against the failure of the hybrid seeds [4]. Crop failure, or production risk, is a result of deviations in the level of rainfall [4]. They find the presence of an insurance package did not persuade farmers to take the risk of a loan to employ new seed technology [4].

Regulatory reform: As espoused by the author, impact evaluations can also be used to evaluate regulatory reform. He argues that burdensome regulations are an important barrier to private sector development [1]. He evaluates regulatory reform in business registration in a few countries, including Peru and Mexico, to understand the data that can be garnered from such regulatory impact evaluations [1]. He suggests it is important to know what the consequences of these reforms are for the economic outcomes related to employment generation, consumer welfare, and economic growth [1]. Furthermore for reference purposes, in a MicroCapital Paper-Wrap-Up, the Economist Intelligence Unit released a report in October 2008 that provided a framework of the microfinance business environment in Latin America and the Caribbean [5]. In this report, a robust regulatory framework was one of the criteria that could increase microfinance activity in the region [5].

Finally, the author explores where we should go from here.  First, he proposes that there should be more evaluations in the areas previously discussed that are already at the forefront of current evaluations [1]. Second, he recommends that we can look at the effects of other programs and policies that are widely used to benefit large numbers of consumers and firms [1]. These include financial literacy and consumer protection, business training, and policies to enhance the SME sector [1]. He, therefore, concludes that having demonstrated some of the possible different strategies for evaluation, more impact evaluation is possible than has currently been attempted [1].

Make your comment at:

http://microfinanceassociation.ning.com/forum/topics/papers-and-research-reviews; and http://microfinanceassociation.ning.com/forum/topics/impact-what-are-the-social

By Uyen Tran, Research Assistant

Bibliography:

[1] “Impact Assessments in Finance and Private Sector Development”, by David McKenzie for the World Bank, http://collab2.cgap.org//gm/document-1.9.35106/Impact%20assessments%20in%20finance%20and%20private%20sector%20development_what%20have%20we%20learned%20and%20what%20should%20we%20learn.pdf

[2] MicroCapital Paper Wrap-Up, 22 June 2009: “The Miracle of Microfinance? Evidence From a Randomized Evaluation”, by Abhijit Banerjeey, Esther Duoz, Rachel Glennersterx, and Cynthia Kinnan http://www.microcapital.org/microcapital-paper-wrap-up-the-miracle-of-microfinance-evidence-from-a-randomized-evaluation-by-abhijit-banerjeey-esther-duoz-rachel-glennersterx-and-cynthia-kinnan/

[3] MicroCapital.org Article, 20 July 2009: The Economist Magazine Reviews Studies Of The Impact Of Microfinance By The Poverty Action Lab http://www.microcapital.org/microcapital-story-the-economist-magazine-reviews-studies-of-the-impact-of-microfinance-by-the-poverty-action-lab/

[4] MicroCapital Paper Wrap-Up, 8 May 2009: “Insurance, Credit, and Technology Adoption: Field Experimental Evidence From Malawi”, by Xavier Gine and Dean Yang http://www.microcapital.org/microcapital-paper-wrap-up-insurance-credit-and-technology-adoption-field-experimental-evidence-from-malawi-by-xavier-gine-and-dean-yang/

[5] MicroCapital Paper Wrap-Up, 24 February 2009: 2008 Microscope on the Microfinance Business Environment in Latin America and the Carribean (LAC), (Part one of a two part series), by The Economist Intelligence Unit http://www.microcapital.org/paper-wrap-up-2008-microscope-on-the-microfinance-business-environment-in-latin-america-and-the-carribean-lac-part-one-of-a-two-part-series/

Grameen-Jameel Pan-Arab Microfinance Ltd. (Grameen-Jameel), a joint venture based in Dubai between the Grameen Foundation and Abdul Latif Jameel Group, announced it would appoint Julia Assaad as its new General Manager [1, 2]. Grameen Foundation is a Washington, DC-based non-profit, and Abdul Latif Jameel Group is a Saudi Arabia-based for-profit business group [3, 5]. Alex Counts, Grameen-Jameel Director and President of Grameen Foundation, stated that Ms. Assaad was brought on to help reach its goal of adding one million new microfinance clients by 2011 [2]. As reported in a previous MicroCapital story on the Arab Microfinance Investment Symposium that took place in November 2008, the Arab microfinance industry has an estimated total market of USD 5.5 billion in the Arab world [13]. Moreover, Heather Henyon, the General Manager of Grameen-Jameel at the time, cited that currently there are 2.9 million borrowers in Arab countries that make up less than four percent of the total demand for microfinance in Arab countries [13]. The untapped market for microfinance is valued at USD 3.96 billion, only slightly less than the USD 5.29 billion that is calculated as the total microfinance market [13].

Ms. Assaad was educated in Egypt and Canada [2]. The details on which specific institutions she attended are not publicly available. She entered the banking industry in 2001 and holds eight years of senior banking experience [2]. She began her career at UBS, a financial institution with head offices in Switzerland with assets totaling CHF 2.016 billion (equivalent to USD 1.9 billion) at the end of 2008 [2, 6]. She also held various management positions at Barclay’s Bank in South Africa and Egypt, a financial institution registered in London with assets totaling GBP 2.053 billion (equivalent to USD 3.4 billion) as of 2008 [2, 7].  Her most recent position was at BNP Paribas where she started in 2007 as deputy general manager and head of retail network and sales. BNP Paribas is a Swiss bank with assets totaling CHF 52.332 billion (equivalent to USD 48.6 billion) as of 2008 [2, 8]. As stated by Zaher Al Munajjed, Grameen-Jameel’s chairman, Ms. Assaad introduced multiple new retail banking products at Barclays, and doubled the number of branches at BNP Paribas [2]. Further details on her roles and duties at UBS, Barclay’s, and BNP Paribas are not publicly available.

Grameen-Jameel Pan-Arab Microfinance Ltd. was established in 2007 as a joint venture between Grameen Foundation and Bab Rizq Jameel Limited, a subsidiary of Abdul Latif Jameel Group [1]. As reported in a previous MicroCapital story, the two were partners for four years, and in an effort to expand microfinance to the Arab world, they created this joint venture, which will provide debt financing for microfinance institutions (MFIs) through its loan guarantee facility, expanding upon the work of its predecessor, Grameen-Abdul Latif Jameel Pan-Arab Initiative [6]. In addition, Grameen-Jameel will provide training and support information sharing among MFIs [6]. Grameen-Jameel, working with its partners, delivers products and services, and provides financing through its Grameen-Jameel Guarantee Fund worth USD 50 million [1]. As of 2008, Grameen-Jameel had facilitated local currency financing of USD 44 million backed by USD 20 million in guarantees to MFIs, and had more than 350,000 microfinance clients through its partners in Egypt, Jordan, Lebanon, Morocco, Palestine, Tunisia, and Yemen. In a prior MicroCapital story, it was reported that Grameen-Jameel issued a local-currency guarantee worth USD 2.7 million to the First Microfinance Institution (FMFI) Syria, part of the Aga Khan Agency for Microfinance (AKAM) in June 2009 [10]. MicroCapital also covered the story on Grameen-Jameel and Grameen Foundation announcing that Enda Inter-Arabe of Tunisia (enda) has gone live on Mifos, a management information system for MFIs, in May 2009 [11].

Grameen Foundation, as a non-profit organization with headquarters in Washington, DC, works to replicate the Grameen Bank microfinance model through a global network of partner microfinance institutions [3]. Started in 1976 by Nobel Peace Prize Winner Professor Muhammad Yunus, Grameen Bank serves more than six million poor families with loans, savings, insurance and other services [13]. The MIX Market, the microfinance information clearinghouse, reports that Grameen Foundation has established a global partner network of 55 microfinance institutions [14]. According to the company’s most recent financial statements, as of March 2008, Grameen Foundation had total revenues of USD 21.9 million, and total expenses of USD 16.7 million [4].

Abdul Latif Jameel Group, established in 1945 and based in Saudi Arabia, began offering consumer financial services in the 1970s according to its website [5]. Its core focus services are automobiles and consumer financing [5]. Details on its financials are not publicly available.

Make your comment at:

http://microfinanceassociation.ning.com/forum/topics/gossip-column-human-interest

By Uyen Tran, Research Assistant

Bibliography:

[1] Grameen-Jameel Pan-Arab Microfinance Ltd: http://www.grameen-jameel.com/

[2] MENAFN Press, 16 July 2009, “Grameen-Jameel announces new General Manager”, http://www.menafn.com/qn_news_story_s.asp?StoryId=1093259528

[3] Grameen Foundation: http://www.grameenfoundation.org/

[4] Grameen Foundation 2007-2008 financial statements: http://www.grameenfoundation.org/docs/resource_center/GrameenFoundation-FinancialStatementsFY08.pdf

[5] Abdul Latif Jameel Group: http://www.alj.com/

[6] UBS AG: http://www.ubs.com/1/e/investors/08q4/0017.html

[7] Barclay’s Bank: http://www.barclaysannualreport.com/ar2008/index.asp?pageid=101

[8] BNP Paribas: http://wcorporate.bnpparibas.com/applis/wCorporate/wCorporate.nsf/docsByCode/IAKB-6P6D6H/$FILE/BNPP_CH_RA2008_FINAL_EN.pdf

[9] MicroCapital Story, 12 June 2007, Grameen Foundation USA and Abdul Latif Jameel Group of Saudi Arabia Launch the For-Profit Joint-Venture Grameen-Jameel Pan-Arab Microfinance Limited http://www.microcapital.org/microcapital-story-grameen-foundation-usa-and-abdul-latif-jameel-group-of-saudi-arabia-launch-the-for-profit-joint-venture-grameen-jameel-pan-arab-microfinance-limited/

[10] MicroCapital.org article, 12 June 2009, Grameen-Jameel Issues a USD 2.7 Million Local-Currency Guarantee to Aga Khan Agency, First Microfinance Institution (FMFI) Syria http://www.microcapital.org/microcapital-story-grameen-jameel-issues-a-usd-27-million-local-currency-guarantee-to-aga-khan-agency-first-microfinance-institution-fmfi-syria/

[11] MicroCapital.org article, 14 May 2009, Enda Inter-Arabe Rolls Out Grameen Foundation’s Mifos Information Management Platform to 52 Branches with Assistance from Grameen-Jameel and ThoughtWorks

[12] MicroCapital.org article, 9 December 2009, Grameen-Jameel and Blue Orchard’s Arab Microfinance Investment Symposium Concludes that Microfinance in Arab World Totals US $5.5 billion http://www.microcapital.org/microcapital-story-grameen-jameel-and-blue-orchards-arab-microfinance-investment-symposium-concludes-that-microfinance-in-arab-world-totals-us-55-billion/

[13] Grameen Bank: http://www.grameen-info.org/index.php?option=com_frontpage&Itemid=68

[14] MIX Market Grameen Foundation: http://www.mixmarket.org/en/partners/partners.show.profile.asp?token=&ett=652

Event Name: Women in Microfinance Career Panel

Date: July 23, 2009

Location: The Carlton Hotel on Madison Avenue, New York, NY

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Costs: Free for paying WAM members; $10 for non-members of WAM.

Summary of event: This event features a panel discussion on careers within the microfinance industry. Local women professionals share insights on how to transition to a career in microfinance and explain what opportunities are available for women interested in working in the sector. After the panel, there will be an opportunity to mingle with the speakers and other professionals in the industry.

Panelists:

Michelle Blatt, Human Resources Manager, Women’s World Banking

Michele Blatt joined Women’s World Banking in 2008 as the Human Resources Manager. She is responsible for overseeing all aspects of Human Resources Management for the WWB Staff and Consultants and ensuring that all HR policies and procedures are compliant with State and Federal Laws. Prior to joining WWB, Ms. Blatt spent the past 12 years working in Human Resources and Recruitment positions with extensive responsibilities in International Recruitment, Employee Relations, Campus Recruitment, Policies and Procedures, Benefits and Compensation. Most recently she was a Manager of Recruitment at a Public Accounting and Consulting firm and has also worked in Human Resources and Recruitment for Louis Vuitton, ABC, Wenner Media, Richard Eisner and Company and Deloitte Consulting. Ms. Blatt holds a B.S. from Binghamton University , SUNY.

Karla Brom, Risk Management Specialist, Independent Consultant

Karla Brom is an international banking and finance expert with over 20 years of experience and a specialization in risk management and corporate governance. She has been advising and training on the topic of microfinance and risk management since 2001, working with Citigroup’s business initiatives in microfinance, the EBRD, the Microfinance Management Institute, Women’s World Banking, Mercy Corps, the Pakistan Microfinance Network, and Banyan Global. She was formerly a Senior VP at Citigroup, where she has seven years of experience as a risk manager, including oversight of Citi treasuries in Central and Latin America . Ms. Brom is an independent consultant and has delivered trainings on financial risk management to over 100 MFIs around the world, including at the Boulder Microfinance training program in Turin. Most recently, she has worked with EFSE to conduct financial risk management assessments and implementation in five transforming MFIs in Bosnia & Herzegovina . Ms. Brom has a BA from Wellesley College and an MA from the Fletcher School of Law and Diplomacy.

Gloriana Guillen, Communications & Marketing Manager, Pro Mujer

Gloriana Guillen has held leadership roles in communications and international development over the last 13 years. She leads Pro Mujer’s communications strategy and oversees marketing, public relations and internal communications. Previous to Pro Mujer, Ms. Guillen worked for Oxfam Great Britain , where responsibilities included launching a communications strategy to engage youth with Oxfam’s work and leading Oxfam’s volunteer program. Prior to this, Ms. Guillen was the Latin America Regional Manager of Discovery Channel Global Education Partnership. During her earlier career, she worked as an anchor and research journalist for Channel 4 News, Channel 15 and Radio Universidad, in Costa Rica. Ms. Guillen holds a Master’s degree in Non-Governmental Organizations and Development from the London School of Economics and Political Science, where she was awarded the Chevening Scholarship, a master’s in Film and Electronic Media from American University in Washington , D.C. where she was a Fulbright Scholar, and a bachelor’s in Journalism from the University of Costa Rica .

Moderator:

Jarna Parikh is a dedicated wife and mother, Yoga Teacher for Kids and Social Entrepreneur. After the birth of her child and working over 13 years as a Global Project Manager (teaching and leading) within the corporate world for several prestigious organizations she decided to embrace her dream. She decided to revisit her lifelong passion of yoga. As she devoted more time to the practice of yoga and being a mom it became apparent that she needed to transition out of the corporate environment to a world that is more fulfilling, loving and nurturing. This resulted in the birth of the “Yoga Cubs”. She is driven with a life purpose to connect her passions. Ms. Parikh’s passion is teaching yoga to kids and microfinance. She is currently in the process of creating kids programs throughout the tri-state area. For every child who will enroll in the Yoga Cubs program, a percent will go to an entrepreneur listed on Kiva.org. Her goal is to lead as many yoga programs teaching the young ones and to give to as many entrepreneurs on Kiva.org. She has a deep-seeded passion for Karma Yoga (selfless dedication) which has lead her to pursue a Certificate in Non-Profit Leadership from Manhattanville College . To obtain a better understanding of the non-profit sector, she worked for global organizations such as Seeds of Peace and Friendship Ambassadors Foundation. She holds a Bachelor of Arts in Accounting and Economics from Queens College (CUNY).

Background on organizers: The event is organized by Women and Microfinance (WAM-New York), a membership organization whose mission is to support women in the microfinance industry by promoting their professional growth, providing leadership opportunities, expanding professional networks, and inspiring them to achieve and share their successes while maintaining a work/life balance.

Registration: Please RSVP with name, company name, e-mail and phone number to wamnewyork@yahoo.com by close of business on July 22, 2009. Registrations will also be accepted at the door. No direct phone number was provided.

Submit Your Event: http://microfinanceassociation.ning.com/events

By Uyen Tran, Research Assistant

Additional resources:

WAM-NY: home

The Foundation for Development Cooperation (FDC), an Australia-based independent, not-for-profit international development organization, released a briefing note in 2009 that discusses the microfinance sector in Fiji [4]. The note first provides an overview of the evolution of microfinance in Fiji. The Fiji government initiated a trial delivery of microfinance services through specialized microfinance institutions in 1999 [4]. As reported in a previous MicroCapital story, the Fiji National Microfinance Unit (NMU), which was established in 1999 under Fiji’s Ministry of Finance to oversee the implementation, monitoring and evaluation of Fiji’s microfinance activities, sets country-wide growth targets [7]. The NMU provides support and guidance to Fiji’s microfinance institutions (MFIs) by providing financial assistance, supporting self-employment ventures, promoting household savings, assisting household business operations, and offering basic business training [7]. The government then established the National Centre for Small and Micro-Enterprise Development (NCSMED) in 2004 [4].  The NCSMED is mandated under the Small and Micro-Enterprises Act of 2002 to develop, promote, and support small and microenterprises [3]. NCSMED’s primary aims are to develop business training programs, advocate for a supportive policy and regulatory environment for small and microenterprises, and facilitate credit and funding for small and microenterprises [3]. In April 2009, the RBF announced it is directing all banks to set up specialized microfinance services at their branches by January 2010 [4]. To implement this policy, the RBF has developed a Microfinance Research and Development Unit [4]. Mr. Reddy stated that in the RBF’s efforts to take on an active role in formulating financial strategies and policies to increase access to finance to rural people, the government has set up a new department called the Financial System Development and Compliance Group in April 2009 [2].

According to the CIA World Factbook, Fiji has a total population of 944,720 as of 2009, with an urban population of 52 percent as of 2008 [5]. The FDC note cites that from 2000 to 2007, there were 340,000 unbanked people in the rural areas [4]. In his speech, Mr. Reddy also cites that the number of savings clients rose from 12,500 in 2004 to 24,000 in 2009 [2].  Moreover, he noted that totals savings is around FJD 1 million (equivalent to USD 450,000) [2]. As of March 2009, lending by NCSMED totaled FJD 1 million (equivalent to USD 450,000), and NCSMED had provided grants totaling FJD 7.1 million (equivalent to USD 3.4 million) [2]. Also, there are now 200 new micro businesses as of 2008, compared to 46 in 2004 [2].

As explained in the FDC note, commercial banks in Fiji have a comparative advantage in delivering microfinance services [4]. This can be attributed to the fact that they are licensed and regulated [4]. Moreover, they have capital adequacy and established systems and procedures that can deal with large volumes of clients [4].  Furthermore, they have their own branches to access their client base, and own source of funds that make them less reliant on donor grants and government funding [4]. Finally, they already have the financial products and services available to serve microfinance clients [4]. The note also recommends that these commercial banks partner with local MFIs to develop their microfinance services since MFIs have a relationship with the community that can help identify key issues and solutions [4]. This illustrates the reverse of the commercialization of microfinance where instead of MFIs transforming themselves into registered banking institutions, commercial banks are entering the microfinance sector.

In 2004, the United Nations Development Programme (UNDP), the United Nations’ global development network, initiated a rural banking program in Fiji, called the Fiji Rural Banking Service [10]. UNDP partnered with ANZ Bank to provide rural banking services [10]. ANZ Bank is an Australian bank and traces its origins to the Bank of Australasia, which was established in 1835 [10]. According to its website, it has assets totaling AUD 471.02 billion (equivalent to USD 380 billion) [11]. It is a publicly-listed company with 376,813 shareholders [11]. As reported in its 2008 Annual Report, its return on assets was 0.8 percent [12].

ANZ Bank provided the investment for setting up and operating the rural banking service [10]. The service includes a fleet of six mobile banks that travel on a regular schedule to 150 designated rural villages and settlements in the main islands of Viti Levu, Vanua Levu, and surrounding islands [10]. The bank offers two savings products, a long-term savings account and an everyday savings/transaction account [10]. Clients also have access to other banking products offered by the bank, and can make transactions in any of its urban branches [10]. The UNDP’s role was to assist with the feasibility assessment by sharing its experience on microfinance schemes, and provide information on the rural economy [10].

Furthermore, Mr. Reddy enumerated some of the challenges faced by the RBF.  These include lack of data on microfinance in the country and participating MFIs, delivery of low-cost and efficient microfinance services, financial literacy, and lack of proposals for microfinance projects [2]. He intends to have the RBF interface more with the groups like NCSMED, UNDP Pacific Center, a UNDP network serving the Pacific Island countries, and financial institutions to address these issues [2, 9].

By Uyen Tran, Research Assistant

Bibliography:

[1] Reserve Bank of Fiji: http://www.fijitimes.com/story.aspx?id=125451

[2] Reserve bank of Fiji, Governor Sada Reddy’s speech: http://www.reservebank.gov.fj/docs/Keynote%20Address%20Delivered%20by%20Governor%20Reddy%20at%20the%20Opening%20of%20the%20Micro%20Finance%20Week%20in%20Nadi%20%2013%20July%202009.pdf

[3] National Centre for Small & Micro-Enterprises Development: http://www.ncsmed.org.fj/Default.aspx

[4] Foundation for Development Cooperation, “The way forward for Microfinance in Fiji

Risks and opportunities under new financial rules”, May 2009, http://collab2.cgap.org/gm/document-1.9.34824/The%20way%20forward%20for%20Microfinance%20in%20Fiji.pdf

[5] CIA World Factbook – Fiji: https://www.cia.gov/library/publications/the-world-factbook/geos/FJ.html

[6] Fiji Times “RBF chief backs microfinance” by Mereseini Marau, 15 July 2009, http://www.fijitimes.com/story.aspx?id=125451

[7] MicroCapital Story, 11 September 2007: Fiji National Microfinance Unit Targets 7,000 New Microfinance Savings Accounts This Year http://www.microcapital.org/microcapital-story-fiji-national-microfinance-unit-targets-7000-new-microfinance-savings-accounts-this-year/

[8] Pacific Microfinance Week: http://www.microfinance-pasifika.org/PMW2009.html

[9] United National Development Programme Pacific Center: http://www.undppc.org.fj/pages.cfm/about-us/

[10] United Nations Development Programme:

http://waterwiki.net/index.php/Banking_the_Unbanked_in_Fiji:_The_ANZ_Bank_and_UNDP_Partnership

[10] ANZ Bank: http://www.anz.com/

[11] ANZ Bank 2008 Annual Report: http://www.anz.com/about-us/shareholders/annual-reports/

Date: November 3-5, 2009

Location: Le Méridien President, Dakar, Senegal

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Costs:

• Private sector companies, industry associations etc.:
  • Early bird: EUR 590 (equivalent to USD 822)
  • After August 15, 2009: EUR 690 (equivalent to USD 962)
• Non-profit organizations, public sector (e.g. regulators), international organizations (e.g. UN), MFIs, NGOs, academics:
  • Early bird: EUR 290 (equivalent to USD 404)
  • After August 15, 2009: EUR 390 (equivalent to USD 544)
• Non-profit organizations (see above) based in a least developed country:
  • Early bird: EUR 75 (equivalent to USD 105)
  • After August 15, 2009: EUR 100 (USD 139)

Summary of event: This three-day conference will focus on issues of providing health insurance to the poor, linking microfinance and microinsurance; the African microinsurance experience, and an economic analysis of microinsurance markets.

Event themes and topics:

Days One: Challenges of Microinsurance in Africa

Day Two: Linking microinsurance to national health insurance; Introduction to microinsurance; Health mutuals; Impact of microinsurance; Roundtable: Challenges and opportunities for the development of microinsurance in Senegal; Financing mechanisms for health; Demand for microinsurance; Linking microfinance with Microinsurance - How can microfinance be a driver for microinsurance?

Day Three: The African experience – How to reach the low income market; Health – Management issues; Linking Microfinance and Microinsurance – Operational lessons and experiences; Linking microfinance with microinsurance – Index based solution; Production and contract design; Roundtable on institutional innovations; Emerging issues and the way ahead

Background on organizers: This event is organized by the Microinsurance Network and Munich Re Foundation. The Microinsurance Network was originally established in 2002 as the CGAP Working Group on Microinsurance, and is based in Luxembourg. It was organized by donor organizations, multilateral agencies, insurance professionals and other interested parties that are involved in the promotion and support of microinsurance in developing countries. Its mission is to promote the development and proliferation of good-value insurance products for low-income persons by providing a platform for information sharing and stakeholder coordination. Munich Re Foundation, based in Germany, is a private grantmaking foundation. Its focus areas include education and training, science and research, disaster prevention, environmental protection, and public healthcare.

Registration: The registration deadline is October 23, 2009. For registration information, see here. Please complete and submit the registration form that can be found here, and pay the appropriate fees. If registering online, please note that only MasterCard or Visa will be accepted. For payments by bank transfer, an additional charge of EUR 50 (equivalent to USD 70) will apply. Registrations after October 23, 2009 will only be possible by credit card. For additional information, please contact Dirk Reinhard at Munch Re at:

Telephone: +49-89-3891-8888
Fax: +49-89-3891-7 8888
E-mail: info@munichre-foundation.org

Submit Your Event: http://microfinanceassociation.ning.com/events

By Uyen Tran, Research Assistant

Additional resources:

5th International Microinsurance Conference: home

Microinsurance Network: home

Munich Re Foundation: home

]]> http://www.microcapital.org/microfinance-event-5th-international-microinsurance-conference-in-dakar-senegal-on-november-3-5-2009-organized-by-microinsurance-network-and-the-munich-re-foundation/feed/ 0 http://www.microcapital.org/microfinance-story-the-international-finance-corporation-ifc-in-washington-dc-and-european-investment-bank-eib-in-luxembourg-create-the-global-emerging-markets-gems-risk-database-consortium-wi/?utm_source=rss&utm_medium=rss&utm_campaign=microfinance-story-the-international-finance-corporation-ifc-in-washington-dc-and-european-investment-bank-eib-in-luxembourg-create-the-global-emerging-markets-gems-risk-database-consortium-wi http://www.microcapital.org/microfinance-story-the-international-finance-corporation-ifc-in-washington-dc-and-european-investment-bank-eib-in-luxembourg-create-the-global-emerging-markets-gems-risk-database-consortium-wi/#comments Tue, 14 Jul 2009 05:03:58 +0000 Uyen Tran http://www.microcapital.org/?p=3531 The International Finance Corporation (IFC), a member of the World Bank Group, and the European Investment Bank (EIB), the long-term lending bank for the European Union (EU), have agreed to create a Global Emerging Markets Risk Database Consortium. Other international financial institutions (IFIs) that will be joining the Consortium include the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), and the Inter-American Development Bank (IDB). The Consortium is to pool data on individual institutions and strengthen risk-management practices among multilateral banks.

The IFC and EIB worked to standardize the data collection processes for individual institutions. The agreement formalizes the relationship between the IFC and EIB in the area of pooling loss data and credit-risk data, such as default and recovery rates, that are part of the risk assessment process. They structured the data in a way that keeps the counterparts’ identities anonymous and preserves data confidentiality. Standard & Poor’s, based in New York and a provider of independent credit ratings, indices, risk evaluation, and investment research and data, has independently reviewed the risk database and common methodology adopted by EIB and IFC. The database will be made available to other multilateral development banks, and provide a framework for potential partners. Moreover, it will provide a common platform for knowledge sharing. Further details on the information being shared are not currently available.

The AfDB Group Risk Management Department Director, Kodeidja Diallo provided an interview where she stated that risk management parameters, particularly probability of default, in the institutions’ lending operations were important. These parameters are used to determine the adequacy of any bank’s capital, pricing, and provisioning based on the risk profile of its assets. Moreover, she noted that both the IFC and EIB have large lending portfolios, largely in the private sector, and therefore their information bases are large, whereas the AfDB has more history in sovereign lending. Established in 1963, AfDB is a regional multilateral development bank that offers loans, equity investments and technical expertise in Africa. According to its website, membership of the AfDB Group, as of the end of December 2007, includes 53 independent African countries and 24 non-African countries. As for the IFC and EIB, the IFC’s new investments totaled USD 16.2 billion in 2008, and according to the EIB’s 2008 annual report, its aggregate loans granted totaled EUR 350.8 billion (equivalent to USD 489.2 billion). Furthermore, Ms. Diallo explained that by working together, the institutions can expand the overall data consortium, and make it more reliable from an industry, sector, instrument, products and obligor perspective.

Established in 1956 and based in Washington, DC, the International Finance Corporation, a member of the World Bank Group, fosters sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Its net worth at the end of 2008 was USD 18.3 billion.

The European Investment Bank is the long-term lending bank for the European Union, established by the Treaty of Rome in 1958. EIB is an international financial institution, a publicly owned bank, and its owners are the Member States of the EU. Its task is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States. EIB supports the EU’s priority objectives, especially European integration and the development of economically weak regions. The EIB raises funds on the capital markets, which it lends to projects furthering EU policy objectives. According to its 2008 annual report, it has assets totaling about EUR 352 billion (equivalent to USD 490.8 billion).

By Uyen Tran, Research Assistant

Additional resources:

International Finance Corporation: home; press release; 2008 annual report; 2008 annual report highlights

European Investment Bank: home; press release; 2008 annual report

African Development Bank: home; interview with Risk Management Director

The new service uses Google SMS Search technology and the MTN network. The mobile phone applications provide real-time health and agricultural information and a virtual marketplace for buying and selling goods and services. Users can access the services at the time of their choosing and search relevant content on-demand, operating almost like the Internet.  The services include: Farmer’s Friend, a searchable database with both agricultural advice and targeted weather forecasts; Health Tips, which provides sexual and reproductive health information, paired with Clinic Finder, which helps locate nearby health clinics and their services; and Google Trader matches buyers and sellers of agricultural produce and commodities as well as other products. In Uganda, agriculture is the most important sector of the economy, employing over 80 percent of the work force, according to the CIA World Factbook. In addition, for a population of 32,369,558, about 13 percent live in urban areas.

Local partners also provide the service content. Busoga Rural Open Source Development Initiative (BRODSI), a non-profit that works with rural villages, provides the agricultural information. The health application content is provided by Marie Stopes Uganda, a service provider for sexual and reproductive health, and Straight Talk Foundation, a Ugandan NGO that specializes in health communication.  The Google Trader application works with International Institute for Tropical Agriculture, a non-profit “research for development” organization, TechnoServe, a US-based non-profit focused on economic development, and SNV Netherlands Development Organisation, an independent Netherlands-based development organization.

As stated on its website, AppLab uses mobile technologies to both disseminate and gather information through mobile phone applications and services. Some examples of the applications and uses include using a text message by a farmer who can receive tips on treating crop diseases, learn local market prices, or get advice on preventing malaria. It also allows surveys to be conducted by mobile phones and collect information on access to health services or the types of crops being grown in a specific region. As the AppLab website explains, it focuses on mobile phones because mobile phones are readily available and cost as much as USD 20. Alternatively, there is the option of using shared phones. Mobile phones also require minimal supporting infrastructure. They can be charged using solar technology or car batteries in areas without electricity.

AppLab Uganda, which is located in Kampala and directed by Grameen Foundation’s Technology Center, focuses on providing access to information through mobile phones. The new services in Uganda can be accessed by existing Village Phone Operators (VPOs), who extend service to people without mobile phones as well as people who have their own phones. VPOs serve to connect communities that lack access to information and the sources that can provide it. Building on the work of Grameen Telecom in Bangladesh, Grameen Foundation and MTN Uganda launched Village Phone in Uganda in 2004. As explained by Grameen, microfinance clients receive a loan to purchase a “Village Phone business.” These VPOs run their businesses in rural villages.  They then rent the use of the phone to their community on a per-call basis. The VPOs charge their customers while earning enough to repay their loans. According to AppLab’s website, MTN currently has a network of over 10,000 Village Phones in Uganda.

Grameen Foundation, as a non-profit organization with headquarters in Washington, DC, works to replicate the Grameen Bank microfinance model through a global network of partner microfinance institutions. Started in 1976 by Nobel Peace Prize Winner Professor Muhammad Yunus, Grameen Bank serves more than six million poor families with loans, savings, insurance and other services. The MIX Market, the microfinance information clearinghouse, reports that Grameen Foundation has established a global partner network of 55 microfinance institutions. According to the company’s most recent financial statements, as of March 2008, Grameen Foundation had total revenues of USD 21.9 million, and total expenses of USD 16.7 million. To read more MicroCapital stories about Grameen Foundation, click here.

Google was founded in 1998 and based in Silicon Valley.  It is a public company focused on search services. It operates web sites at many international domains, including www.google.com. The company also serves corporate clients, including advertisers, content publishers and site managers with advertising and search services. According to its 2007 Annual Report, it reported total assets of USD 25.3 billion.

Established in 1994, MTN Group is a multinational telecommunications provider based in South Africa, with its core operations in 21 countries in Africa and the Middle East.  According to its website, as of the end of December 2008, it had more than 90.7 million subscribers, and had a total revenue of R102.5 billion (equivalent to USD 12.6 billion) and assets of R141.4 billion (equivalent to USD 17.4 billion)

By Uyen Tran, Research Assistant

Additional resources:

Grameen Foundation: home; press release; Village Phones

AppLab: home

Google: home; 2007 annual report

MTN Uganda: home; 2008 financials

CIA World Factbook: Uganda

Busoga Rural Open Source Development Initiative: home

Marie Stopes Uganda: home

Straight Talk Foundation: home

International Institute for Tropical Agriculture: home

TechnoServe: home

SNV Netherlands Development Organisation: home

Date: September 21-23, 2009

Location: Tyson’s Corner Marriott, Vienna, VA (Washington, DC metro area)

See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events

Costs: Registered non-profit groups receive a special discount, and should call (212) 537-5898 to discuss bookings.

Pricing for Pension/ Foundation/Endowment Funds:

Book & pay by July 24, 2009

Conference Only: USD 899

Workshop A: USD 399

Workshop B: USD 399

Conference + 1 Workshop: USD 1,358

Conference + 2 Workshops: USD 1,782

Book & pay by Aug. 21, 2009

Conference Only: USD 999

Workshop A: USD 499

Workshop B: USD 499

Conference + 1 Workshop: USD 1,438

Conference + 2 Workshops: USD 1,887

Standard Price

Conference Only: USD 1,099

Workshop A: USD 499

Workshop B: USD 499

Conference + 1 Workshop: USD 1,598

Conference + 2 Workshops: USD 2,097

Pricing for All Other Attendees:

Book & pay by July 24, 2009

Conference Only: USD 1,399

Workshop A: USD 599

Workshop B: USD 599

Conference + 1 Workshop: USD 2,038

Conference + 2 Workshops: USD 2,632

Book & pay by Aug. 21, 2009

Conference Only: USD 1,549

Workshop A: USD 699

Workshop B: USD 699

Conference + 1 Workshop: USD 2,645

Conference + 2 Workshops: USD 2,787

Standard Price

Conference Only: USD 1,699

Workshop A: USD 699

Workshop B: USD 699

Conference + 1 Workshop: USD 2,398

Conference + 2 Workshops: USD 3,097

Summary of event: This three-day event will analyze next generation microfinance investments and the evolution of microfinance structured instruments, evaluate emerging opportunities in China, India, Bangladesh and the Middle East markets, explore the latest trends and increased interest of University endowments towards investments in illiquid assets in emerging markets, and assess the exit strategies for equity investments in microfinance, and other strategies to hedge risks.

Event themes and topics:

Days One: Market Focus: Enhancing the Efficiency, Reach and Scope of Investments in Microfinance through Venture Equity; Portfolio Analysis: Benchmarking Microfinance against Alternative Emerging Market Asset Classes; University Endowments and Investments in Illiquid Alternative Assets in Emerging Markets; Setting Out Clear Exit Strategies for Equity Investments in Microfinance; Feasibility Analysis: To What Extent Can the Microfinance Sector Remain Insulated Against Global Economic Pressures in the Capital Markets?; Regional Focus: Evaluating Investment Opportunities in Asia for American Investors; Investment Protection: Regulatory Environment for Investments in Microfinance in Emerging Markets; What Strategies Exist to Hedge Microfinance Risks in Different Economic Scenarios?; Establishing Stringent Due Diligence Requirements: Managing the Legal, Regulatory and Jurisdictional Risks; Networking Opportunity: Industry Round Table Discussion on the Growing Interest in Equity SME Investments

Day Two: Microfinance Fund Performance and Strategy: To What Extent Can Microfinance Remain A Resilient Asset Class through the Next Phase of The Global Financial Crisis?; Regional Focus: Assessing Investment Opportunities in Middle East & Africa; Exploring New Strategies that Drive Financial Returns at Market Rate While Securing Long Term Altruistic Value; Building an Investment-Ready Microfinance Institution: Securing Debt Financing; Developing Standardised Procedures for Measuring Fund Performance to Achieve Commercial Targets; Regional Focus: Understanding the Market Opportunities for Investments in Latin America; Structured Finance Instruments: Past and Present; Developing Internationally Applicable Corporate Governance Guidelines to Build a Healthy Investment Environment; Examining the Extent to which Microfinance Reduce Portfolio Volatility?

Day Three: Workshops

Workshop A: Examining How To Capitalise On The Growth And Availability Of Shariah-Compliant Microfinance Structures

Workshop B: Improving Risk Management through Micro-Insurance

Background on organizers: The event is organized by Leaders in the Financial Services, a division of Hanson Wade. Hanson Wade organizes conferences that are designed to examine business capability by connecting industry participants. They have a team of researchers who interview business leaders every month and profile case studies at their conferences. The conferences provide direct access to relevant knowledge and insights from the industry, and gain updates on the latest solutions in the market and how well they work in practice.  Its official partner for this conference is ACCION. a U.S. non-profit, which heads a network of 27 microfinance institutions.

Registration: For registration information, please see here. There are four methods to register for this event:

Online: http://www.regonline.co.uk/Checkin.asp?EventId=738688

Register online using a credit card (Visa, MasterCard, and AMEX are accepted).

Telephone: Please call (212) 537-5898.

Fax: Please fax your booking form to (212) 537-5898. For the booking form, download the brochure.

Mail: Please mail your booking form (see above for fax) with a check made payable to Hanson Wade to: Hanson Wade Ltd, 304 Park Avenue Street 11th Floor, New York, NY 10010

Submit Your Event: http://microfinanceassociation.ning.com/events

By Uyen Tran, Research Assistant

Additional resources:

Microfinance for Institutional Investors: home

Hanson Wade: home