Monday, May 18, 2009, New York City, New York.
See Our Comprehensive Event Calendar Here:
http://microfinanceassociation.ning.com/events
About the event: The WAM-NY panel discussion on how the global financial crisis is impacting microfinance institutions around the world. Although the impact of the crisis has been discussed at length, the panel will provide specific data compiled as part of a USAID sponsored study on the impact of the crisis on MFI’s asset and liabilities. The panel brings together the authors of the study, as well as important players in the sector that provide a firsthand perspective on the effect of the crisis to date on MFI funding trends and asset growth and quality.
Who is invited: Everyone
Event Theme and Discussions: The Global financial crisis has had an enormous impact on financial sectors worldwide. While in the past, microfinance has survived financial crises relatively unscathed, fueling an argument that the sector is uncorrelated with other asset classes, today, this relationship is less clear. The current crisis is deeper and the microfinance sector is more integrated into the global economy as well as the global financial sector than in the past. In March 2009, USAID published a paper outlining some of the effects of the crisis on the liabilities of the microfinance sector as well as the asset side of MFI balance sheets, suggesting that few countries will avoid an effect on their microfinance sectors although some will be hit more than others.
Panelists included:
• Barbara Magnoni, President, EA Consultants
• Fernando Alvarez Toca, CFO, Compartamos
• Pilar Ramirez, General Manager, Locfund
Moderated by: Arnaud Ventura, Vice President, PlaNet Finance & President, MicroCred
Important Dates: Monday, May 18, 2009, New York City, New York.
Location: Skadden, Arps, Slate, Meagher & Flom LLP – 4 Times Square (the Conde Nast Building) – enter through the Skadden entrance – 38th Floor, Conference room 100-102
Costs: Paying WAM members and Skadden associates- free; non-members of WAM,
$10.
Registration: 6:00 PM – 6:30 PM Registration; 6:30 PM- 8:00 PM Panel Discussion and Q&A. Due to building security restrictions, please RSVP name, company name, email, and phone number to wamnewyork@yahoo.com by COB on May 15.
For additional information, please contact:
Contact Name: Barbara Magnoni
Telephone: 212-734-6461
Email: ibmagnoni@eac-global.com
About the Presenter:
Women Advancing Microfinance (WAM) International: Establish in 2003, the mission of Women Advancing Microfinance International is to advance and support women working in microfinance through education and training, by promoting leadership opportunities, and by increasing visibility of their participation and talent while maintaining a work/life balance. WAM International intends to conduct activities that are consistent with the following values:
• To advance and support women’s leadership in the microfinance industry through education and training, by promoting leadership opportunities, and by increasing visibility of their participation and talent while maintaining a work/life balance
• Sponsoring educational programs that assist women working in microfinance to grow professionally and personal and professional obligations.
• Conducting surveys to assess the current state of the microfinance industry as a place for professional women to work and to highlight those microfinance institutions that are female-friendly in their policies and advancement of female professionals.
• Raising public and industry awareness about the challenges women face in the microfinance industry.
About the Sponsor:
USAID: Established in 1951, is an independent federal government agency that receives overall foreign policy guidance from the Secretary of State. Our Work supports long-term and equitable economic growth and advances U.S. foreign policy objectives by supporting:
• Economic growth, agriculture and trade
• Global health
• Democracy, conflict prevention and humanitarian assistance.
They provide assistance in five regions of the world:Sub-Saharan Africa; Asia; Latin America and the Caribbean; Europe and Eurasia; and The Middle East.
With headquarters in Washington, D.C., USAID’s strength is its field offices around the world. USAID works in close partnership with private voluntary organizations, indigenous organizations, universities, American businesses, international agencies, other governments, and other U.S. government agencies. USAID has working relationships with more than 3,500 American companies and over 300 U.S.-based private voluntary organizations.
About the Panelists:
Barbara Magnoni, President, EA Consultants:
Barbara Magnoni is president of EA Consultants. An international development advisor with over 15 years international finance and development experience, she has an extensive background in financial market financing and investments, having worked on Wall Street for seven years. Ms Magnoni has been supporting projects that improve access to finance, markets and social protection including micro and SME finance as well as microinsurance. Ms. Magnoni recently led a research effort for USAID to assess the impact of the credit crunch on microfinance institutions worldwide, resulting in a USAID publication: Will the Bottom of the Pyramid Hit Bottom?
Fernando Alvarez Toca, CFO, Compartamos:
Fernando Alvarez has been the Chief Financial Officer of Compartamos Banco
since March 2005. Prior to being named CFO of Compartamos Banco, Mr. Alvarez had 11 years of experience working in the financial sector, having been a member of Enlace Int. S.A. de C.V., Marshall Mexico, S.A. de C.V. and Banco Santander Mexico, S.A. Fernando Alvarez holds a B.A. in Business Administration from Universidad Iberoamericana in Mexico City and an MBA from the Instituto Panamericano de Alta Dirección de Empresas (IPADE).
Pilar Ramirez, General Manager, Locfund:
Pilar Ramirez is General Manager of LOCFUND, the Local Currency Microfinance Fund for Latin America and The Caribbean. Previously, Pilar was President of the Board of FIE S.A. a regulated microfinance company in Bolivia, created based on the success of its microcredit predecessor, FIE NGO, which Pilar helped found in 1985. Pilar?s more than 20 years of experience in microfinance in her home country of Bolivia, as well as numerous consulting and other teaching assignments throughout the developing world, have prepared her to now manage this new and innovative local currency finance vehicle for the region.
About the Moderator:
Arnaud Ventura, Vice President, PlaNet Finance & President, MicroCred:
Arnaud co-founded and ran PlaNet Finance as its CEO from 1998 to 2005. He founded MicroCred in 2005 and served as its President & CEO until 2007. As CEO of PlaNet Finance, Arnaud led the development of the organization from a modest provider of microfinance services with a annual budget of $500,000 in 1999 to a diversified microfinance group with a budget of over $15M in 2008. Today, Planet Finance offers consulting and technical assistance, microfinance institution rating services through Planet Rating, and fund management and advisory services in microfinance through PlaNIS.
By Zoran Stanisljevic
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