Microfinance Institutions hold summit in Guatemala
Starting next Wednesday, August 27, the IV Conference of Central American Microfinance Institutions will be held in Guatemala City.
Tuesday, August 19, 2008
The event will be held under the theme "Competitive Microfinance with Social Impact" and will finish on Friday, August 29. It is being organized by the Central American Network of Microfinance Institutions (Redcamif) and the Microfinance Institution Network of Guatemala (Redimif).
The subject of the fifth Central American Microfinance Conference is "The Financial Crisis: Lessons Learned and New Strategies".
A law regulating the microfinance market would open the opportunity to capture savings that currently can only be done through cooperatives and banks.
Despite a less favorable macro-economic environment, the credit portfolio of the micro-finance sector in Central America grew 28% in 2007 in comparison to the previous year.
The "No Payment" movement is scaring US and European investors, threatening the arrival of $70 million worth of funds for micro finance companies.
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