Pacific microfinance community to meet in PNG [1]
Friday, August 24, 2007 - 13:06. Updated on Tuesday, July 21, 2015 - 12:26.
The International Finance Corporation (the private sector arm of the World Bank Group) manages the Private Enterprise Partnership for the Pacific (PEP-Pacific), a lead sponsor for Pacific Microfinance Week. An initiative of Microfinance Pasifika Network, the conference will provide a platform for the exchange of information on the provision of inclusive and sustainable financial services, including remittances, payment services and insurance, savings and credit in the Pacific Islands.
Organised by The Foundation for Development Cooperation, in collaboration with the PNG Institute of Banking and Business Management and the Microfinance Competence Center, the conference will be held at the Crowne Plaza Hotel on August 27-31, 2007.
The event will give donors, banks, Microfinance Pasifika members and microfinance institutions and supporters the chance to network and share experiences. A series of workshops and presentations will address key issues related to microfinance, including technology, linkages and partnerships, asset building for the poor and the role of central banks and government.
...The week provides the Pacific microfinance community with a unique opportunity to exchange views and experience; learn about the global state-of-the-art and how global microfinance trends affect the region,... said Brigit Helms, IFC Access to Finance Sector Leader for East Asia and Pacific. ...Perhaps more importantly, the week will give participants a chance to agree on a few regional priorities to work on collectively....
Helms will make a keynote presentation on microfinance and financial inclusion in Papua New Guinea, while Tony Lythgoe, IFC Credit Bureau and Risk Management Advisor, Global Financial Markets, will speak on financial markets infrastructure, with an emphasis on credit bureaus. IFC will also be represented by Robert Simms, PEP-Pacific Acting General Manager, Peter Cusack, PNG Country Coordinator and Peter Sheerin, Credit Bureau and Risk Management Advisor, Global Financial Markets.
...IFC PEP-Pacific is pleased to be co-sponsoring the conference and believes it will be of great benefit to the growing number of microfinance practitioners in the region,... said Richard Ranken, IFC...s Director for East Asia and Pacific. ...IFC PEP-Pacific...s support for the conference reflects the importance that we attach to the objective of achieving financial inclusion in the Pacific....
IFC is committed to building strong commercial microfinance institutions that drive entrepreneurship and over the past 10 years has achieved industry leadership in microfinance by committing to 128 deals in 47 countries, including 15 regional/global projects.
Figures from 2006 indicate that IFC...s microfinance activities have made a difference to the lives of about 3.5 million entrepreneurs, as IFC...s clients have a combined loan portfolio of $5.6 billion. In Fiscal Year 2007, the microfinance unit disbursed over $180 million, pushing IFC...s microfinance portfolio to the $600 million mark.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments. IFC...s vision is that poor people have the opportunity to escape poverty and improve their lives. In FY06, IFC committed $8.3 billion, including syndications, to 248 investments in 66 developing countries.
About IFC PEP-Pacific
The IFC Private Enterprise Partnership for the Pacific is a multidonor initiative managed by IFC; donors include Australia, Japan, New Zealand, and IFC. Its primary objective is poverty reduction through employment-generating, sustainable private sector development. Programs focus on access to finance, tourism, and business climate development. The initiative works with partners to strengthen and stimulate small and medium enterprises, helping create jobs, raise living standards, and alleviate poverty. It serves IFC member countries in the Pacific, including Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, and Vanuatu. IFC,24/08/07.