MICROCAPITAL BRIEF: MetLife Foundation, Accion, Chinese Association of Microfinance (CAM) Launch Microfinance Management and Leadership Program in China

Accion, a US-based nonprofit providing microfinance services in Africa, Asia, and the Americas; the MetLife Foundation, the philanthropic arm of US-based insurance company Metlife; and the Chinese Association of Microfinance, a network of 92 microfinance institutions (MFIs) and other members, recently launched the International Microfinance Management and Leadership Program. This nine-month program comprises classroom lectures, monthly webinars and visits to microfinance institutions (MFIs) with the goal of teaching managers of Chinese MFIs how to expand the reach of their financial services.

Michael Schlein, Accion’s CEO and President, said, “Across China, nearly half a billion people do not have access to a safe place to save, the chance to borrow and build their credit, or to insure themselves and their families. By training local MFI senior managers in the best ways to address day-to-day issues, we can create a stronger industry that can better extend financial services to more people [1].”

Du Xiaoshan, the Chairman of the Chinese Association of Microfinance, said, “We’re delighted to partner with Accion to share best practices with the managers of local MFIs in order to provide better services for their clients. This program will provide MFI managers with the skills they need to create and expand a vital aspect of financial inclusion in China [1].”

In its first class, the International Microfinance Management and Leadership Program has 35 participants from 13 MFIs that serve a total of 900,000 clients.

By Jason Wei, Research Associate

About MetLife Foundation

The MetLife Foundation was created in 1976 to serve as the philanthropic arm of the US-based insurance company MetLife. As of 2014, MetLife had USD 6.1 billion in assets under its holding companies. Since 2013, the foundation has been dedicated to expanding financial inclusion and has committed USD 200 million to be distributed between 2013 and 2018 to “help build a secure future for individuals and communities around the world.”

About Accion

Accion is a private, US-based nonprofit organization with the mission of alleviating poverty by offering financial products such as microenterprise loans and business training. Accion was founded in 1961 and issued its first microloan in 1973 in Brazil. Accion’s partner microfinance institutions provide loans to men and women entrepreneurs through 64 microfinance institutions (MFIs) in 32 countries in Africa, the Americas and Asia. As of March 2015, Accion, in association with its partner MFIs, have an aggregated loan portfolio of USD 7.54 billion serving approximately 5.33 million borrowers. As of December 2013, Accion reported total assets of USD 351 million.

About China Association of Microfinance

China Association of Microfinance (CAM) is network of 92 microfinance institutions (MFIs), other organizations and individuals that aim to help “promote the development of the microfinance industry”. The organization’s functions include policy coordination, fund-raising services, technical and training support, as well as international trade and cooperation for those of its members lacking legal recognition. The size of this organizations budget is not available.

Sources and Additional Resources

[1] Metlife Foundation, Accion Launch Management Training Program in China, http://3blmedia.com/News/Metlife-Foundation-and-Accion-Launch-New-Management-Training-Program-Provide-More-1-Million

MicroCapital Universe Profile: MetLife Foundation

MicroCapital Universe Profile: Accion

MicroCapital Universe Profile: China Association of Microfinance

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/

Similar Posts: