Port Vila, Vanuatu, July 27, 2011
—IFC, a member of the World Bank Group, will train microfinance institutions in the Pacific to better understand and manage risks, build stronger operations, and serve more micro and small entrepreneurs.
In a workshop on July 28, during Pacific Microfinance Week 2011, IFC trainers will provide attendees with an overview of globally accepted standards and approaches to managing credit, market, liquidity, and operational risks. The trainers will introduce IFC’s Risk Management Toolkit, which will help participants gauge their preparedness to manage risks and assess how they can improve their systems and business culture. Trainers also will share solutions to help institutions improve their risk-management practices.
“Microfinance institutions need to develop strong risk-management policies, structures, and training programs for staff to manage risk effectively,” said Deva de Silva, IFC Program Manager for Access to Finance in the Pacific. “Those who cope well with risk are better equipped to handle downturns in the financial markets, making them less vulnerable and more resilient in the future.”
IFC is a key sponsor of Pacific Microfinance Week 2011, which runs from July 26 to July 29 in Vanuatu. In addition to delivering the risk-management workshop, IFC experts will discuss global trends in microfinance, including the role of women and ways to overcome the challenges of distributing microfinance.
Through the Australian government-supported Pacific Microfinance Initiative, IFC is helping expand access to loans, savings, and insurance products in Papua New Guinea, Timor-Leste, and the Pacific Islands, particularly for women, rural households, and enterprises. The program focuses on improving the ability of microfinance institutions and other financial service providers to efficiently deliver financial services to Pacific Island communities with limited access to basic financial services.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit