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WSBI sponsors, participates in microfinance global congress

WSBI sponsors, participates in microfinance global congress

​Discuss access, use and quality of microfinance services

>> Learn more about the conference

​​​BRUSSELS, 9 September 2016 - WSBI will take part later this month in the IX International Congress of Microfinance being held in Lima, Peru.

WSBI will speak on September 29 during the third of nine scheduled sessions, which focuses on access, use and quality of microfinance services, a global vision. Representing WSBI will be Wolfgang Neumann. This year's congress theme is "Pillars for Financial Inclusion: Access, use and quality".

Background on the Congress

​WSBI is a sponsor of this year's event, which is organised by WSBI member FEPCMAC along with CajaSullana. The congress aims to achieve five goals. First, to provide a diagnosis of the current state of financial services and propose strategies to promote greater access, use and quality. Second, share strategies and global management best practices to increase the use of financial services. In addition, to analyze strengths derived from a monetary policy that favors the development of the microfinance industry. Next, reflect on how to improve the funding of resources, cost and quality of services, and innovation of microfinance products.

And finally, to contribute to the training of the governing bodies of the specialized microfinance institutions for better business decisions.

About Peru and microfinance

The economic performance of Perú in recent years reflects the national effort to maintain macroeconomic stability and implementation of trade liberalization policies and promotion of private investment, which has also favored the consolidation of Peru as the country with the best environment for the development of microfinance and financial inclusion, which is defined by the Multisectoral Commission for financial inclusion (CMIF) as "access and use of quality financial services by all segments of the population."

Also, advances in promoting financial inclusion, favored the design of the National Strategy for Financial Inclusion (ENIF), which was formalized in June 2015 and actually is implemented by the various stakeholders. The main challenges for this strategy are: a) to promote greater access to financial markets, increasing geographical coverage; b) to promote the increased use of services, improving the ecosystem of products that meet the needs of the population, facilitating the development and deepening of distribution channels; and c) to increase confidence and consumer knowledge to make informed decisions against financial products and services.

The South American country increased during the past five years the use of financial services, exceeding the six million individuals who have credit to December 2015 with the result that 31% of the adult population has a credit. However, the supply of financial services is more concentrated in urban areas, so one of the tasks under the ENIF, also corresponds to promote financial inclusion of the population in rural areas.

Organisers note that the worldwide recognition of the positive impact of financial inclusion policies on social inclusion and socio-economic development, also caused that financial inclusion is treated as a state policy, and is the ENIF that makes it tangible with the development of inclusion financial through multisectoral actions, contributing to decentralized and inclusive economic development with the participation of public and private sector, thereby contributing to economic development.

Microfinance institutions leading actors in ENIF push

It should also be noted that the specialized microfinance institutions are highly relevant leading actors for implementing the ENIF, because its experience of more than three decades become one of the agents with greater knowledge of the Peruvian market, and thanks to the various actions being carried out to improve their processes and honing their own strategies based on management models, they show how they implement the best practices of world-class positively impact their role of promoting agents financial inclusion.

It is then appropriate to reflect, analyse and discuss the main themes that ENIF proposed for the development of financial inclusion, from a business approach.

>> Learn more about the conference

Financial inclusion; Microfinance