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Asia Microfinance Forum in Hanoi attracts 500 experts
Over 500 experts from 50 countries, including more than 100 microfinance practitioners from Vietnam, are participating in the second Asia Microfinance Forum 2008 which opened in Hanoi on August 26.
The event is an initiative of The Banking With the Poor Network (BWTP), organised by the Foundation for Development Co-operation (FDC) and funded by Citi Foundation, in association with the the PlaNet Finance Group and the European Union in collaboration with the State Bank of Vietnam.
The forum entitled "Microfinance in the 21st century - Future Trends and Opportunities" provides a significant event for the development of microfinance and a good opportunity for participants to exchange experience and discuss common issues in order to come up with new approaches and initiatives for the development of the region's microfinance sector, affirmed Ms Truong My Hoa, former vice president of Vietnam in her opening speech at the forum.
BWTP's mission is to enhance the delivery of financial services and share best practices among microfinance organisations across the region. NGOs, local and foreign banks and investors are all exploring ways of packaging and delivering financial services to the poor and we want this conference to showcase the initiatives that could meet the increasing demand for microfinance services, both in Vietnam and across Asia, said Chandula Abeywickrema, Chairman of BWTP, Asia's only regional microfinance network.
Delegates to the four-day forum will focus on challenges and innovations that will have the greatest impact on microfinance in coming decades and discuss implications for the microfinance sector industry in Asia.
Key themes to be covered at the conference include the challenges for increasing finance and investment in the sector, the need for the poor to build savings and assets, the role of microfinance networks, new technologies available to help achieve greater financial inclusion, and how microfinance can contribute to environmentally sustainable development in the developing world.
Citi's support of the microfinance sector started over 25 years ago. Citi Foundation grants support to the development of thousands of microfinance institutions so that they can provide low-income individuals with greater access to financial services, and evolve into commercially self-sustaining organisations.
Over the last decade, the City Foundation has contributed over US$60 million to support 250 microfinance institutions, networks and micro-enterprise programmes in 55 countries.
City has a long term commitment to support the development of Vietnam and the growth of its microfinance sector, said Piyush Gupta, CEO, South East Asia Pacitfic, Citi at a press briefing today.
Citi established its first microfinance partnership in Vietnam in 2001 with a Citi Foundation grant to Save the Children US to support its microfinance programme in Thanh Hoa province. Citi Vietnam has given VND 3.3 billion (US$168,000) to enable more than 10,000 women from low-income households in Thanh Hoa to start their own micro-enterprises. Today, the programme operates successfully as the Thanh Hoa Poor Women's Support Fund and is considered one of the few examples of microfinance programmes in Vietnam that has overcome many challenges to become financially sustainable.
ND
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