Source: Citi.
Search Results for: microfinance financial crisis
WHO’S WHO IN MICROFINANCE: The Netherlands Development Finance Company (FMO)
The Netherlands Development Finance Company (FMO) was founded by the Dutch government in 1970 as a means to stimulate sustainable growth in developing economies through private sector investment. FMO funds financial institutions or companies in developing countries by investing in housing, energy, and financial private sector projects in emerging markets.
NEWS WIRE: United Kingdom: Disagreement Over €100m European Union Microfinance Fund
Source: EurActiv.com.
NEWS WIRE: Nigeria: Crackdown on Microfinance Institutions Begins
Source: This Day.
MICROFINANCE EVENT: Clinton Global Initiative (CGI) Fifth Annual Meeting September 22-25, 2009, New York City, U.S.
Event Name: Clinton Global Initiative (CGI) Fifth Annual Meeting
Event Date: September 22-25, 2009
Event Location: Sheraton New York Hotel and Towers, New York City, NY, U.S.
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL.ORG STORY: U.S. Senators Introduce Microfinance Growth Fund (MGF) in Latin America and Caribbean, Backed by Overseas Private Investment Corporation (OPIC), Multilateral Investment Fund (MIF), and Inter-American Investment Corporation (IIC)
United States Senator Bob Menendez of the state of New Jersey, U.S. recently announced plans to invest in the Latin American and Caribbean (LAC) microfinance sector. The U.S. administration will launch a Microfinance Growth Fund (MGF) with the following organizations: the Overseas Private Investment Corporation (OPIC), an independent U.S. government agency which assists with investments in developing countries; the Multilateral Investment Fund (MIF), an autonomous fund administered by the Inter-American Development Bank (IDB); and the Inter-American Investment Corporation (IIC), an affiliate of the IDB which supports private sector and capital market development in LAC countries.
MICROFINANCE EVENT: European Microfinance Week, Presented by the European Microfinance Platform, November 24-26, 2009, Abbaye Neumünster, Luxembourg
European Microfinance Week, presented by the European Microfinance Platform, November 24-26, 2009, Abbaye Neumünster, Luxembourg
Costs: The fees for participants are as follows:
Registration Fee : 300€ (USD 430), Students (limited number) : 50€ (USD 72) . To register for European Microfinance Week 2009, please see here.
Summary of event: The theme for the 2009 meeting will be ‘Microfinance in a new financial era’ and will examine how the microfinance sector has reacted in the face of the global financial crisis. A combination of plenary, workshop and roundtable sessions will ensure participants make the most of their opportunity to stay informed, debate and contribute to discussions.
This 2009 final program summary is still pending. A draft of the program will be available shortly.
Please see here for 2008 conference for additional reference.
Previous 2008 Summit Speakers Included:
- J. Glisovic-Mezieres, CGAP Survey “CGAP MIV Benchmark 2008”
- Challenges in the distribution of Microfinance Investment Vehicles (Panel discussion)
- C. Speckhardt, responsAbility
- M. Schneider, Deutsche Bank
- E. de Lutzel, BNP Paribas
- R. Dominicé, Symbiotics Regulatory frameworks on foreign direct investments in microfinance
- de Ville, Chairman e-MFP The role of e-MFP in the global microfinance industry: challenges and opportunities
- Velasco, Co-Founder and Director, Pro Mujer International in Latin America Expectations of Latin American MFIs towards European Microfinance actors
- M. Toure, General Manager UM-Pamecas Senegal Expectations of African MFIs towards European Microfinance actors
- P. Sakellaris, Vice-President EIB Microfinance: fluctuat nec mergitur?
- R. Mersland, Consultant and Researcher Overview of the European Microfinance Week
- L. de Canniere, Incofin The role of private investors on social responsibility and social performance – the case of Incofin
- M. Adler, KfW Dimensions of responsible finance in microfinance practice
- Minh Huy Lai, Planet Finance Social Responsibility – the MFI inside perspective
- Koning, EU/ACP MF Program/CGAP Responsible Finance – the ‘What’, ‘Why’ and the ‘How’
- R. Annibale, Citigroup
- J.-P. Klumpp, Blue Orchard
- E. Schröder, Invest in Visions
- R. Dominicé, Symbiotcs
Online Registration: Please click here.
Important Dates: Tuesday, November 24 to Thursday November 26, 2009 at Abbaye Neumünster, Luxembourg
Submit Your Event: http://microfinanceassociation.ning.com/events
Event Type: Conference
Event Starts: November 24, 2009
Event Ends: November 26, 2009
Location: Abbaye Neumünster, Luxembourg
Contact information:
No specific name is provided. For Further information, please contact the following:
Christoph Pausch, Executive Secretary
Niamh Watters, Administrative Assistant
European Microfinance Platform (e-MFP)
21 Allée Scheffer
L-2520 Luxembourg
Tel. +352 26.27.13.55
Fax: +352.45.68.68.68
email: contact@e-mfp.eu
Submit Your Event: http://microfinanceassociation.ning.com/events
Event Type: Conference
Event Starts: November 24, 2009
Event Ends: November 26, 2009
Location:
CONFERENCE VENUE:
Centre Culturel de Rencontre
Abbaye de Neumünster
28, rue Münster
L-2160 Luxembourg
Téléphone : +352/ 26.20.52.1
Fax : +352/ 26.20.19.80
E-mail : contact@ccrn.lu
URL : www.ccrn.lu
Organized By: The European Microfinance Platform (e-MFP)
MICROCAPITAL.ORG STORY: India-Based IFMR Trust ‘Debunks’ Myths About The Poor And Financial Services In The Wall Street Journal
In an article entitled ‘Debunking Myths About The Poor And Financial Services’ in the Wall Street Journal [1], Mr Suyash Rai, a Senior Manager with IFMR Trust [2], and Ms Sona Varma, Senior Advisor with IFMR Trust, attempt to address what they perceive to be ‘a number of popularly held misconceptions about role of finance in the lives of the poor’. IFMR Trust is a private trust with the mission of ensuring complete access to financial services for individuals and enterprises in India. It does not supply data to the MIX Market portal, an online database that houses financial and other information on MFIs around the world [11].
MICROCAPITAL.ORG STORY: Caribbean MFI Map Financial Group Reports Increase In Microfinance Demand As A Result Of Declining Remittances From The US
It was recently reported [1] on the Reuters news wire that the sustained deterioration in the US economy has had adverse effects on remittances from the country back to the Caribbean. The report refers to research undertaken by the Caribbean MFI, Map Financial Group [2]. According to Map, remittances from American family members to relatives in the Caribbean islands have fallen by approximately 9 percent and this has had a severe impact on a region already suffering from declining tourism revenues and commodity prices. Remittances are stated to be among the top five sources of income for Caribbean residents.
MICROCAPITAL.ORG STORY: CGAP Blogger Analyses Ongoing Problem Of Poor Repayment And Multiple Lending By Microfinance Institutions In Indian State Of Karnataka
In a CGAP blog entitled ‘Multiple borrowing or multiple lending – who is to blame for debt fatigue?’ [1] Mr N Srinivasan explores the microloan repayment problem that has affected some districts in the Indian state of Karnataka. The issue has been covered in a previous article on the Wall Street Journal, which became of the subject of a recent Microcapital.Org Story [2].
MICROCAPITAL.ORG STORY: State Bank Of Pakistan Amends Prudential Regulations Applicable To Microfinance Banks to Remove ‘Regulatory Bottlenecks’, Cap Microloan Sizes And Reduce The Risk Of Borrower Over-Indebtedness
It was recently reported that the State Bank of Pakistan (SBP) [1] has amended the Prudential Regulations applicable to Microfinance Banks (MFBs). According to a report posted on the website of the Dawn Media Group [2], the amendments are intended to remove ‘regulatory bottlenecks’ which have been brought to the attention of SBP by the microfinance community in Pakistan recently.
MICROCAPITAL.ORG STORY: The Economist Continues Debate About A ‘Microfinance Bubble’ And Sets Out Observations By SKS Microfinance, ACCION International And Co-Author Of ‘Portfolios Of The Poor’
In an article in the Economist magazine entitled ‘Froth at the bottom of the pyramid: Is microfinance going the same way as subprime mortgages’ [1], the Economist continues the controversial debate on the ‘microfinance bubble’ that was initiated by a series of provocative articles on the Wall Street Journal and a subsequent blog on the Reuter’s website. These articles have been discussed in previous Microcapital.Org publications [2], [3], [4]. The Economist draws our attention to a view put forward recently by Mr Vikram Akula, founder of India’s SKS Microfinance [5], who expressed disappointment at the recent ‘unbalanced and misleading’ views on microfinance investments and ‘absurd’ sweeping generalisations drawn from anecdotal evidence in one neighbourhood. The Economist reminds us that SKS is about to go public in a ‘doubtless lucrative’ IPO but the views of Mr Akula resonate with the views of other participants in the microfinance sector. Mr Alvaro Rodriguez, former chairman of ACCION International [6] and now chairman of Compartamos Banco [7], finds it hard to see how there can be a ‘bubble’ when, according to estimates, ‘there are currently 100 million microfinance clients out of one billion poor people who want access to financial services’. He added that competition among investors may generate a ‘gold rush’ and lead to ‘frothy lending’ in some instances but stated that competition is a good way to introduce innovation, greater efficiency, better products and pricing into any industry, a development he added that will ultimately benefit the microfinance customers.
NEWS WIRE: United States: At International Finance Corporation, Muhammad Yunus Argues Crisis Is Opportunity to Reform Financial System
Source: World Bank Crisis Talk Blog.
NEWS WIRE: Cambodia: Transparency Meets Microfinance
Source: Asia Times Online.
MICROCAPITAL.ORG STORY: CGAP Microfinance Blogger Observes That Ratios May Not Accurately Reflect Real Strength Of Microfinance Institutions
In a blog posted by Mr David MacDougall on the CGAP Microfinance Blog [1] entitled ‘The answer isn’t in the spreadsheet…How to assess the real strengths of a microfinance institution’ [2], Mr MacDougall was quoted as stating that ‘The financial crisis has made investors and asset managers increasingly sensitive to risk in all areas of finance, including microfinance. Lenders and investors worry about whether MFIs can survive. They weigh the risks by applying sophisticated analysis to the MFIs’ financial performance and asset quality. A spreadsheet with numerous ratios and graphs serves as the standard tool. Unfortunately, such efforts can lead to erroneous conclusions because their focus isn’t wide enough.’ Instead of focusing on ratios, which can have a limited meaning, Mr MacDougall felt that analysts should instead focus on understanding the activities, context and management of a MFI. His thoughts are elaborated below.
NEWS WIRE: Kyrgyzstan: Microfinance Sector Growing Fast
Source: Business New Europe.
MICROCAPITAL EVENT: International Microfinance Conference on Africa, September 2-3, 2009 in Johannesburg, South Africa, Organized by Omega Investment Research
Event Name: International Microfinance Conference on Africa
Event Date: September 2-3, 2009
Event Location: Johannesburg, South Africa, Investec Bank Auditorium
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
MICROCAPITAL.ORG STORY: CGAP Consultant Deborah Burand Blogs About What Subprime Mortgage Securitizations Can Teach Microfinance Participants About The Sales Of Microfinance Loan Portfolios
Ms Deborah Burand [1], a consultant for CGAP, recently posted a comment on the CGAP Microfinance Blog [2] entitled ‘What subprime mortgage securitizations can teach us about sales of microcredit portfolios’ [3]. Ms Burand suggests that there is a lot that microfinance participants can learn from the subprime crisis in the US. In particular, she highlights the problems with the ‘originate to distribute’ model of securitization [4], [5], [12] and the role of this technique in exacerbating the subprime crisis. Under the ‘originate to distribute’ model, banks often sell the loans on their books in order to remove these assets (and the credit risks associated with these assets) from their balance sheets. Loans are seldom held to maturity under this model with the result that banks are able to generate more loan assets within a relatively shorter time frame. The lessons that can be learnt by microfinance participants from the subprime crisis were the subject of a previous Microcapital.Org White Paper which is set out in the Bibliography section below [6].