Luis Alberto Moreno, president of the IDB, suggested that the sector should grow to have annual operations of US$15 billion by 2011, citing the fact that “microfinance institutions in Latin America currently only serve about 8% of estimated demand.” The comments were part of his opening speech to the Ninth Annual Inter-American Forum on Microenterprise in Quito,Ecuador, which was attended by 1200 microfinance practitioners from around the world and centered around the topic of Financial Democracy.
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