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IDB Fund, WWB to hold seminar on microfinance in Buenos Aires

11
Apr '08

The Inter-American Development Bank's Multilateral Investment Fund (MIF) and Women's World Banking (WWB), a global network of microfinance institutions, will hold a seminar on commercial banks' entry into microfinance on April 22 in Buenos Aires, Argentina.

Princess Maxima of the Netherlands and IDB President Luis Alberto Moreno are due to address participants of the one-day event , in which more than 100 representatives from Argentine government, regulation agencies, commercial banks and microfinance institutions from across Latin America will share their views on implementing successful business models for microfinance.

"We are confident that this event will help microfinance—a sector with enormous potential in Argentina—develop in an efficient and sustainable manner to support those segments that still lack access to financing. Commercial banks have a crucial role to play in this process because they will ensure the long-term sustainability of such services,” said Moreno.

WWB President and CEO Mary Ellen Iskenderian said: "The trend of commercial banks entering the microfinance sector is generating great hope in Latin America in terms of opportunities for growth in the sector in the region and the type and scope of services that could eventually be offered to low-income entrepreneurs.”

Princess Maxima, who is a member of the United Nations Advisors Group on Inclusive Financial Sectors, said: “Strategic partnerships in the financial sector can help expand access to financial products and services to those not yet served by commercial banks.

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