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Washington, DC, Dec 1, 2017
—IFC, a member of the World Bank Group, and the Boulder Institute for Microfinance, are concluding a special week long training program, “Back to Boulder: Strategic Response to Risk in Microfinance Markets” designed for CEOs and board members of financial institutions. The cutting-edge program brought together about 66 participants, all of whom were C-Suite executives from 41 different institutions in 26 countries.
Together, they are exploring the strategic challenges generated by disruptive technologies and competitive market forces, and look forward to how MFIs can position themselves to successfully address a next generation of financial service providers with products that serve a wider segment of the population, support a broader set of financial goals, and generate full financial inclusion. A key element on the agenda was the growing role of digital financial services, this year a third training track dedicated to the topic was added. The two other tracks featured are Risk Governance, and Enhanced Competitiveness.
Martin Holtmann, Manager of Microfinance and Digital Financial Services at IFC said, “As IFC works towards its goal of to universal financial access and its strategy of creating new markets, we want our partners not only to have access to the latest delivery tools such as digital finance, but also to have the highest operating standards and risk management approach. We are delighted to deliver this program with our distinguished partner the Boulder Institute, combining IFC’s private sector investment expertise with their excellence in educating and training leaders in the microfinance field. “
Robert Christen, President at the Boulder Institute added “At the Boulder Institute we are extremely pleased to have joined with our partner the IFC to engage CEOs and their colleagues in the C-Suite in deep discussions about strategic responses to the highly competitive microfinance environments and the role of governance in facing coming challenges to serve clients more completely with innovative products and channels.”
The program is an example of the kind of industry transformation envisaged under the Memorandum of Understanding signed between Boulder Institute of Microfinance and IFC in April 2016, and follows on from last year’s successful Back to Boulder event. The main
objective of the week is to provide participants with the opportunity to build on their own experiences, enhance their strategic understanding through engaging and honest discussions of real life cases and crises and form part of an important global community of colleagues facing similar challenges.
IFC is one of the leading global investors in microfinance. Over its 20+ year experience in the sector, IFC has committed more than US $6 billion to approximately 300 institutions. We have assisted the industry in becoming commercially viable and sustainable and are currently working with many of our financial institution clients to deploy digital financial services solutions in order to reduce costs, stay competitive, and achieve universal financial access. IFC provides strong support for responsible finance practices and strengthening of risk management. We also assist our partners through tailored support in SME Finance, Climate Finance, and Banking on Women. In 2016, IFC clients were able to provide 54 million micro loans worth $61 billion to micro enterprises and entrepreneurs in emerging markets.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
www.ifc.org
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About Boulder
Boulder Institute of Microfinance is a not-for-profit organization that has been dedicated to broadening financial inclusion systems through sustainable microfinance programs for the past 23 years. We offer training to senior and mid-level professionals from an array of institutions dedicated to providing microfinance services as a way to fight poverty. Our goal is to both inform and transform. To accomplish this, our program participants are challenged to think critically through intense, interactive seminars and elective courses, analyzing strategic aspects of the industry, debating paradigm shifts, learning through practical case studies, working with new tools, and understanding microfinance best practice. For more information, visit:
www.bouldermicrofinance.org
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