Thursday, July 25, 2013
Original Approved Amount:
Categories: Press Releases, Value Chains, Regional Economic Development, Youth, Basic Services, Environment and Clean Energy, Financial Inclusion, SME Finance, Microfinance, Early Stage Equity, Haiti, Women’s Entrepreneurship
Registration is now open for Foromic XVI, the most important annual event focused on the development and financing of micro, small and medium enterprise in Latin America and the Caribbean.
Foromic XVI will be held in Guadalajara, Mexico from September 30 to October 2, 2013. The event is organized by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, in collaboration with the Mexican Secretariat of the Economy and Secretariat of Finance and Public Credit and in conjunction with Mexico’s National Program for the Financing of Microenterprise (PRONAFIM).
The central theme of this year's Foromic is “The Productivity Challenge: Financing Dynamic Entrepreneurship.” The main topics scheduled for discussion in plenary sessions and breakout panels include innovation in products and services for financial inclusion and savings, supporting and financing youth and women’s entrepreneurship, green finance, SME credit, and high impact businesses.
Foromic annually attracts more than one thousand delegates from banks, microfinance institutions, entrepreneurship associations, government agencies, universities, NGOs, and international organizations working in the sector.
This will be Mexico’s second time hosting Foromic, 15 years after the successful launch of the first Foromic in Mexico City. At that time, the region had only 205 microfinance institutions serving 1.5 million customers, and 200 people attended the conference. Today, Latin America’s microfinance sector has some 600 institutions with approximately 12.5 million customers who receive $15 billion in loans annually. This year, 1,500 participants are expected to join the conference in September.
For more information, visit www.foromic.org.
Inter-American Awards for Financial and Entrepreneurial Innovation
This year, the MIF seeks to recognize organizations that have made outstanding contributions to the development in Latin America and the Caribbean in three specific areas: financial inclusion, green business and early stage financing. The awards this year will take place during the opening ceremony of the Foromic conference. Submissions for the Green Business Award and the Best High Impact Fund Manager Award are still being accepted until July 31st at www.foromic.org.
About the MIF
The Multilateral Investment Fund (MIF) is funded by 39 donors and supports private sector-led development benefiting low-income populations and the poor - their businesses, their farms, and their households. The aim is to give them the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory - experimenting, pioneering, and taking risks in order to build and support successful micro and SME business models. More information at www.fomin.org.