FOR IMMEDIATE RELEASE
MAY 17 2013

WATERLOO, ON - MEDA recently co-founded an exciting initiative to bring risk management in microfinance to the next level together with Appui au Développement Autonome (ADA), Calmeadow, Center for Financial Inclusion at Accion (CFI), MFX Solutions, Oikocredit, REGMIFA, and Triple Jump. The Risk Management Initiative for Microfinance (RIM) aims to contribute to the development of awareness, best practices, and appropriate standards for risk management in microfinance globally.

In recent years, the microfinance sector has experienced the effects of poor risk management in a variety of different forms – from saturation in India, to local currency depreciation and unnecessary foreign exchange losses in Kenya, and from an uncertain regulatory environment in Kosovo to failed corporate governance in Liberia. The lack of a comprehensive approach to risk management has led many microfinance institutions to create static, ad hoc systems and approaches to risk management that are often reactive in nature. Rarely do these approaches feed into a larger risk management framework giving institutions the ability to adapt their systems, structures, policies, and tools to the changing business environment in which they operate.

The mission of RIM is to contribute to the development of awareness, best practices, and appropriate standards for risk management in microfinance globally. The Initiative's vision is to contribute to a socially-focused microfinance sector through which microfinance clients are protected from the impacts of internal and external risks inherent to the delivery of inclusive financial services. The newly established RIM will raise awareness through advocacy and visibility efforts about the importance of risk management in order to contribute to industry-wide standards and best practices for risk management, foster information and idea sharing between technical experts of microfinance risk management, and develop the capacity of risk management consultants in the field.

MEDA will contribute its specific expertise on integrated risk management for financial intermediaries through our MEDA Risk Management Framework as a part of this initiative. For more information, please contact Sashi Selvendran at This email address is being protected from spambots. You need JavaScript enabled to view it. .

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MEDA is an international NGO founded in 1953 that provides technical expertise in subsector and value chain analysis, market linkages, financial services (rural finance, deposit mobilization and youth & financial services), health systems, and financial institution capacity development. MEDA's expertise cuts across sectors, working with vulnerable and underserved populations like youth, low-income women, and rural populations.

MEDA has been busy recently building relationships between students, professionals, chapter members and MEDA staff...

MEDA Waterloo staff share expertise with next generation of development professionals

 

 

 

 

 

 

 

 

 

 

 

 

 

University of Waterloo Master of Development Practice (MDP) students visited MEDA head offices in April to learn about MEDA's approach to development work. Staff shared their experiences with project start-ups, case studies of economic development, application of monitoring and evaluation techniques, working with youth on providing access to financial services and how to enter the field of international development. MEDA staff enjoyed engaging with young professionals and providing insights on what it's like to work in the field to the potential development leaders of the future.

MEDA Waterloo hosts Tajik microfinance institution Board of Directors

IMON, the largest microfinance institution in Tajikistan, recently held their twice-yealy international Board of Directors and shareholders meeting at MEDA's Waterloo office. Kim Pityn, IMON board chair and MEDA chief operations officer enjoyed hosting the IMON board in Canada, as for many this was their first visit. MEDA has a long history of successful partnership with IMON, a regulated microfinance institution that targets the economically active poor in Tajikistan. MEDA provides financial support (investment and loan capital); technical assistance and board participation to assist IMON's long-term growth and success.

IMON was started in 1999 by Sanavbar Sharipova and Gulbahor Mahkamova, two women who continue to manage IMON today, out of the need to provide financing for women. After the fall of the Soviet Union, IMON grew out of the need to provide financing for the women receiving business training from their foundation, NABWT. IMON now has 13 years of experience in providing financial services to the most vulnerable groups of the population in Tajikistan. In fact, small loans to clients from "difficult to service" rural and remote areas represent approximately half of the entire loan portfolio. Transforming into a licensed depository in 2012, IMON offers innovative loan products to promote new entrepreneurs and help curb underemployment. IMON finished the year with a loan portfolio of US $68.4 million, up 51% from the previous year, reaching more than 58,000 active borrowers.

Winnipeg MEDA chapter video chats with MiCredito staff in Nicaragua

 

 

 

 

 

 

 

 

MEDA supporters in Winnipeg had a chance to connect virtually with MEDA's work on the ground in Nicaragua recently. Using Skype video chat technology at the Winnipeg MEDA Chapter's April meeting, they were able to talk to Veronica Herrera, CEO of MiCredito, MEDA's microfinance institution in Managua, Nicaragua, and Octavio Cortes, longtime MiCredito associate. Herrera and Cortes explained how MiCredito makes affordable loans to micro-businesses and responded to questions. Facilitating the discussion is Jeff Huebner, associate professor of international business at Canadian Mennonite University's Redekop School of Business. He regularly brings students from his international microfinance course to Nicaragua to interview MiCredito staff and clients, carry out research on microfinance, and assist with field audits.

CASABLANCA, MOROCCO - MEDA Maroc is a Moroccan NGO working to enhance economic and social inclusion of Moroccan youth, aged between 15 and 30, by providing them with access to financial and non-financial services tailored to their needs.

MEDA Maroc is mindful of the advantages that self-employment and other income generating activities hold for youth, as well as the difficulties that youth face in terms of access to financial products tailored to their needs. With the aim of bridging the gap between youth needs for financial products and the offerings of the market, MEDA Maroc is launching its “Financial Solutions for Youth” project.
The goal of “Financial Solutions for Youth” is to support Moroccan Microfinance Institutions (MFIs) in creating and/or adapting financial services and products to youth needs thus improving youth access to these offerings. MEDA Maroc will support MFIs in this quest through a series of specialized training modules and Technical Assistance designed specifically for the project.

MEDA Maroc, in partnership with MEDA Canada, has developed three training modules destined for the various levels of management of MFIs:
1. Youth Customer Service for MFIs;
2. Product Development for Youth-Specific Financial Offerings;
3. Risk Management for Youth-Specific Financial Products.

These training modules will be delivered throughout Morocco by a group of local trainers with expertise in the fields of microfinance and adult training. MEDA Maroc will take care of the majority of the fees related to the trainings.

MEDA Maroc is also offering tailored Technical Assistance to MFIs that have already completed the three training modules of “Financial Solutions for Youth” project and that wish to develop a youth-specific financial product. This Technical Assistance will be overseen by a team of local and international experts in Microfinance.

“Financial Solutions for Youth” has already been launched in Egypt in partnership with SANABEL, the Microfinance Network of Arab States.

For further information, please contact Khadija Saoudi by email This email address is being protected from spambots. You need JavaScript enabled to view it. or phone at +212 (0)5 22 22 48 48.

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Website: www.meda.org
Twitter: @medamena

FOR IMMEDIATE RELEASE
April 10, 2013

"Para-vet" training will help community see them in a new positive light

Waterloo, ON – In a simple but impressive ceremony 31 women in the conservative South Punjab region of Pakistan recently graduated into new careers as female livestock extension workers (FLEWs) to provide much-needed services to their communities.

They are the latest graduates from a training program initiated by MEDA (Mennonite Economic Development Associates) with local partner Hashoo that will bring veterinary care to women with small dairy operations.

As each woman was presented with her toolkit, she promised to make full use of it for the betterment of the community – but the potential impact can far exceed beyond the health and well-being of the animals they will tend.

The kits contain everything they need for their own mobile veterinary practice, so they can extend medical attention to the livestock of female farmers in their area to improve the lives of the animals and the products they provide.

"We hope this program will build not only their income, but also respect for these women in their communities as they provide outreach services," says Helen Loftin, MEDA's director of Women's Economic Development (WED). "If people can see the direct effect FLEWs can have on economic and market growth, they are more likely to see women in a positive light - as full economic participants."

The FLEW training program is part of MEDA's Entrepreneurs project aimed at increasing the incomes of 75,000 mostly women microentrepreneurs and small enterprise owners working in the dairy, honey/beeswax, medicinal plants and embellished fabrics sectors throughout Pakistan over five years.