International Symposium Geneva, October 1-2, 2008

On 1-2 October 2008, the World Microfinance Forum Geneva (WMFG) organized an international symposium on inclusive finance investment in Geneva. This took place in conjunction with the European meeting of the Council of Microfinance Equity Funds (CMEF) on September 30. The International Labour Organization provided conference facilities and extensive logistical support.

Participants

The international symposium in Geneva brought together more than 400 representatives of organizations involved in investment in inclusive finance worldwide, of which 75% were from Europe and more than 50% represented investors. In addition, WMFG brought a special delegation from China to Geneva, consisting of leading regulators, researchers and providers of inclusive financial services.

Speakers

More than 80 leading experts in investment in inclusive finance made contributions as moderators, speakers and panelists. They included leaders of some of the strongest microfinance institutions and networks, active investors such as pension funds, banks and investment funds, and a range of researchers specialized in investment in inclusive finance. Also represented were insurance companies and ICT providers, specialized social and financial rating agencies, and experts on regulation.

Contents

The symposium consisted of 20 sessions spread over one and a half days:

Day 1:

Opening plenary on the fundamentals of inclusive finance - In Channy (ACLEDA), Robert Annibale (Citigroup), Mary Ellen Iskendarian (Women’s World Banking) and Karl Cordewener (Basel Committee on Banking Supervision) Breakouts on the assessment of providers of inclusive financial services from a financial and social point of view, as well as their regulatory environment Plenary on the first ten years of microfinance investment vehicles, and the transparency of MIVs - Naim Abou-Jaoude (Dexia) and Damian von Stauffenberg (MicroRate)

Break-outs on recent innovations in and future expectations for fixed income instruments, equity investment or foreign exchange risk management. A special parallel session on inclusive finance in China. Plenary dialogue among CEOs of some leading providers of inclusive financial services worldwide, on how investors should evolve to meet their needs and those of their clients.

Day 2:

Plenary debate on the fairness of doing business with the poor - Muhammad Yunus (Grameen Bank) and Michael Chu (Harvard Business School) Break-outs on the most significant drivers of scale in inclusive finance: new technology, new products and consolidation; with a special parallel session on inclusive finance in China. Closing plenary on the future of investment in inclusive finance - Maria Otero (ACCION International), Paul Spijkers (All Pensions Group Investment), Jean-Pierre Klumpp (BlueOrchard) and Jeanne Barras Zwahlen (responsAbility & symbiotics)

Research

The symposium brought together the latest evidence and research in the area of investment in inclusive finance, in particular fixed income and equity investments, foreign exchange risk management, social performance monitoring and inclusive finance in China. A number of studies were prepared especially for the symposium.

Output

The symposium provided investors with information and tools to decide whether inclusive finance fits their portfolio and investment goals, and how to develop strategies for investment in inclusive finance that ensures sustained results. The proceedings of the symposium were summarized in a symposium report.

Networking

This symposium offered extensive opportunities for networking; before, during and after. The parallel exhibition “Walking the Talk” allowed organizations to present and sell their products and services to investors. The event was a good occasion to renew acquaintances and build new relationships; several concrete cooperation agreements and investment deals were made as a result.