We are working to create linkages and develop financial systems and innovative practices that work for microfinance providers and their clients.
Networking Stakeholders in Jamaica
In June 2011 the CMFA invited key microfinance stakeholders in Kingston, Jamaica to a forum to share, discuss and exchange ideas on resolving current issues in the microfinance sector. Billed as a Caribbean Microfinance Interchange (CMI) the forum was designed as a strategy to accomplish an objective of the CMFA, that of facilitating collaboration and cohesive action among stakeholders within CMFA member countries and regionally. CMI-Kingston was a lively gathering of twenty (20) microfinance practitioners including the Permanent Secretary in the Ministry of Industry, Investment and Commerce (MIIC). A progressive accomplishment of the Interchange was the generation of a list of agreed priorities for action.
The CMI will be replicated in other member countries and will be used not only as a tool to foster collaboration but also to garner broad support for the activities of the CMFA in the region. The next CMI will be held in Belize in the first quarter of 2012.
Establishing Links with Microfinance Pasifika Network (MPFN)
In keeping with our mandate to connect with other microfinance organizations and networks, the CMFA had representatives participating in the Pacific Microfinance Week 2011 (PMW 2011) held in Port Vila, in the South Pacific island of Vanuatu from July 26 - 29. PMW 2011 was convened by Microfinance Pasifka Network (MFPN) and organized by Foundation for Development Cooperation (FDC) Pacific, who is the current Secretariat of MFPN. PMW 2011 provided the opportunity for both networks, the CMFA and MFPN to establish a formal arrangement for mutual sharing and co-operation.
Significantly, MFPN participated in our recent General Assembly Meeting (November 2011) held in Nassua, The Bahamas. MFPN was invited to share on the evolution of the network. The presentation was delivered by Carly Stephan, FDC Project Manager. In her presentation we heard first hand about financial inclusion in the Pacific, critical network success factors, MFPN's successes and challenges and the next steps for the Pacific network. The potential benefits of twinning both networks was also explored.