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UNEP FI 2007 Global Roundtable

Mainstreaming Microfinance - Must Have or Mission Drift?

Workshop 2.4.3
15.00-16.30

From Asia to Africa, bankers, investors, fund managers, and venture capitalists are taking an interest in microfinance by integrating their business models with social missions. The world is recognizing that poverty, environment, and financial systems are complex and interlinked, requiring innovative partnerships. Mainstreaming microfinance is pragmatically changing the way some financial institutions do business - they are making a healthy profit, while also helping the poor.

Proponents argue it will significantly lift people out of poverty, while offering a healthy return on investment. Skeptics on the other hand, warn that it could lead to "mission drift." Through an interactive debate, this session will bring together the two worlds of private capital and village banking to shed light on the following issues:

What are the impacts of the evolution of microfinance? From Asia to Africa, what are the barriers and opportunities to commercial microfinance? Will the social mission be undermined? Or, will more private players contribute to a more sustainable microfinance sector?
How do we strike the balance between an MFI's social mission and long-term financial sustainability? How are commercial MFIs, development agencies, investors working together to overcome this conundrum?
What is the way forward for microfinance? Can we apply best practices from Asia in an African context? Can we apply village banking principles in developed country markets?

Session Summary (PDF: 628 KB)

Speakers

Mr. John Kalfayan, Senior Manager for Technical Services, WOCCU
Mr. Somak Ghosh, Country Head of Corporate Finance, Yes Bank
Richard Peters, Head of Corporate Social Responsibility, Australia, National Australia Bank
Dr. John Conroy, Special Consultant, The Foundation for Development Cooperation