Anne Hastings is the Executive Director of Fondasyon Kole Zepol (Fonkoze), Haiti’s largest microfinance institution (MFI). Fonkoze or “Haiti’s Alternative Bank For the Organized Poor” has 34 nation-wide branches with total assets of USD 6.7 million as of December 31^st 2007. According to its MIX Market Profile, at year end 2007, Fonkoze had 20,916 active borrowers and 30,509 active savers. Fonkoze also offers microinsurance with Alternative Insurance Company (AIC), a Haitian insurance company.

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Written by Gustavo A. Barboza and Humberto Barreto, published April 2006 in Contemporary Economic Policy Vol. 24, No. 2, 16 pages available at: http://econpapers.repec.org/article/oupcoecpo/v_3A24_3Ay_3A2006_3Ai_3A2_3Ap_3A316-331.htm Continue Reading »

CHALLENGES AND PERSPECTIVES ON THE ORIENTED PRODUCTIVE MICROCREDIT PROGRAM (PNMPO)

July 15-16, 2008, IN THE AUDITORIUM OF THE INSTITUTE OF APPLIED ECONOMIC RESEARCH (IPEA) IN BRASILIA, BRAZIL

Sponsored by the Brazilian government’s Ministry of Labor, with support from the National Bank of Economic and Social Development, the event brings together academics and practitioners of microfinance, in an effort to explore new ideas on how public policies can foster growth in the microfinance sector. Continue Reading »

The Inter-American Development Bank (IDB) recently announced that funds totaling USD 829,300 will be invested in a project for Uruguayan Institute for Economic and Social Development’s (IPRU) female and youth entrepreneurship in Uruguay’s capital Montevideo and district Saladero de Salto. USD 600,000 of the funds will come directly from IDB and USD 229,300 will come from counterpart financing from Uruguay. The IDB’s contributions will come through its Social Entrepreneurship Program (SEP), which aims to make credit available to the financially excluded. SEP is managed and administered by the IDB’s Multilateral Investment Fund (MIF), which promotes inclusive private sector growth through grants and investments. USD 125,000 will be given in the form of a grant, while USD 200,000 will be given through a seven year loan that includes a two year grace period. The interest rate has not been specified. Finally, USD 275,000 has been allocated for “technical cooperation financing” and is funded directly from the IDB’s Italian Trust for Microenterprise Development. Continue Reading »

The International Finance Corporation (IFC) recently made a USD 15.6 million equity investment in financial conglomerate Grupo Mundial Tenedora S.A. IFC now has a 9.9 percent stake in the group. The agreement has been approved by the IFC and is currently “pending signing”. Continue Reading »

THIRD GLOBAL CREDIT REPORTING CONFERENCE: PUBLIC POLICY & INNOVATIVE SOLUTIONS FOR EMERGING MARKETS

OCTOBER 21-23, 2008, SHERATON RIO HOTEL & RESORT IN RIO DE JANEIRO, BRAZIL

The conference to be hosted by the World Bank, the International Finance Corporation (IFC) and Brazilian Ministry of Finance’s Central Bank of Brazil will concern credit reporting infrastructure considering country examples, legal and regulatory framework and the private and public sectors. Continue Reading »

Source: Incofin. Continue Reading »

Source: Wall Street Journal. Continue Reading »

4^th CENTRAL AMERICAN MICROFINANCE CONFERENCE

AUGUST 27-19 2008 EL CENTRO DE CONVENCIONES IN GUATEMALA CITY, GUATEMALA

The Red Centroamericana de Microfinanzas (REDCAMIF), a regional organization that aims to encourage institutional start up and transformation in microfinance, will host the fourth Central American Microfinance Conference in August 2008. The theme of the conference is Competitive Microfinance Institutions with a Social Impact, which will discuss the competitiveness of microfinance, how to create a competitive environment and how competitive institutions relate to social impact. The agenda outlines the conference in detail. Continue Reading »

ACE INA Foundation, the philanthropic arm of Bermuda-based casual insurance company ACE Limited, announced that it will be making a three-year USD 720,000 grant to US based international development organization Freedom from Hunger (FFH). Established in 1946, FFH works in developing countries to provide self-help programs against hunger and poverty. The organization’s work is specifically targeted to those who live on USD 1 per day or less. FFH will use the ACE grant to bring microfinance and financial education to nearly 3 million Mexican women, through its Credit with Education program. Continue Reading »

MICROINSURANCE CONFERENCE 2008

NOVEMBER 5-7 2008, CENTRO DE CONVENCIONES Y EXPOSICIONES IN CARTAGENA, COLOMBIA

The Microinsurance Conference 2008 will facilitate panel discussions, working groups and plenary sessions to explore the limits and opportunities of the microinsurance sector. It will focus specifically on technology, innovation, capacity building and regulation, exploring areas such as agriculture, health and risk management. Sessions will be based on practical experiences and global examples from places such as Pakistan, South Africa and Peru. The conference will be conducted in English. Spanish translation will be available.

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Source: The Economist. Continue Reading »

Source: Pro Mujer. Continue Reading »

The Inter-American Development Bank (IDB) recently announced that the Awards for Microenterprise Development will be presented at the IDB’s 11^th Inter-American Forum on Microenterprise (FOROMIC) in Asuncion Paraguay, in October 2008. It will be organized by the government of Paraguay as well as by the IDB’s Multilateral Investment Fund (MIF), which promotes inclusive private sector growth through grants and investments. Continue Reading »

Source: Banco Compartamos. Continue Reading »

Source: Inter-American Development Bank (IDB). Continue Reading »

To finance its ambitious expansion plans, for-profit microlender SKS Microfinance has announced it plans to raise RUP 1.3 billion (USD 30.3 million) in equity capital through private investors, hoping to increase its equity base from roughly USD 50 to 80 million. SKS’ management plans to use the new funds to double its current customer base of 500,000 over the next two years. To meet its equity target, SKS added that it may induct a new investor onto its balance sheet. Continue Reading »

Source: PR Newswire Continue Reading »