FEBRUARY 2008

 

Attention US grads:

MEDA US internships available!
MEDA has the opportunity of a lifetime for young US residents. For 2008-2009, MEDA has again committed funding for two internships for recent graduates from the US.

MEDA is now accepting applications for:

A micro-business development associate, who will work with the Gulf Coast Community Service Center in Gulfport/Biloxi, Mississippi. MEDA is helping to develop a micro-business development program using the ASSETS+ model, which provides training and technical assistance to entrepreneurs.

A human resource administrator, who will work with the human resource department of a Haitian credit union, Fonkoze Financial Services, in their head office in Port-au-Prince, Haiti, where MEDA is assisting in the design, implementation and training of a revised job evaluation system and performance management system.

Additional information about these internships is posted at www.meda.org. Send your resumes to jobs@meda.org

Do you know someone ...
... who has a strong interest in community-based economic development, is flexible and able to adapt to different environments and cultures? Please pass this information along!

"A MEDA internship is a great opportunity. I’ve acquired practical professional experience while making a positive impact on people’s lives."

—Scott Bennett, MEDA 2007-08 Internship: Microbusiness Development Associate, West Virginia

Scott Bennett

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Members keep MEDA on the cutting edge, says Pries

Serge LeVert-Chiasson was looking for work that would be his passion when he graduated from university. But he didn't find it at a major bank when they gave only a "shallow response" when asked about their approach to corporate social responsibility.

Serge

The experience led him to wonder how he could work and contribute to the community at the same time. He found his answer at MEDA, doing a seven-month CIDA internship with a microfinance organization called CAPA in Romania in 2001 and 2002. (With MEDA's help, CAPA today is the premier microfinance organization in not only Romania, but the region, offering financial services to over 15,000 entrepreneurs throughout Romania.)

"I found my calling – I saw how finance could be of use to others. I was always passionate about finance, but not how it is used. My experience in Romania showed me how microfinance could alleviate poverty and how little was needed to make a positive difference in people's lives. It made me realize how finance and development could mix in a really positive way."

The practical issue of paying off a student loan intervened in Serge's plans, though, and Serge returned to Canada to work at Export Development Canada for over three years. But his connection to MEDA continued.

While pursuing a Masters of Science degree in accounting and finance at the London School of Economics and Political Science, he did an independent study on microfinance, asking whether specialized equity funds such as MicroVest and Sarona helped or hindered the social mission of microfinance institutions (MFIs) and whether bringing more commercial activity might have the effect of "mission drift" on them.

Serge conducted a comparative study of MicroVest and ShoreCap International, and concluded that special equity funds that respected the MFI's mission resulted in greater good due to their ability to scale operations, ensure sustainability and provide appropriate governance. (Scale is the ability to grow operations quickly and efficiently. Both capital and expertise (governance) are needed for effective growth.)

Again, Serge's thoughts turned to a career in microfinance. With the 2006 Nobel Peace Prize going to Muhammad Yunis and Grameen Bank, microfinance became a darling, better known both on Main Street and Bay Street/Wall Street. He entered the International MBA program at the Schulich School of Business, York University (Toronto), with a goal to bring his passion for finance and innovation and marry it with his desire to work in the non-profit field.

The program included a work term in Latin America, and Serge's first thought was to work with MEDA again. He spent 13 weeks in Nicaragua working with MiCredito last summer, and when a new position was created to second Gerhard Pries, MEDA's chief financial officer and director of investment fund development, Serge knew he had found a good fit for his passion and desire to work in the field.

He began in his new role as vice president of Sarona Risk Capital Fund and MEDA Investments Inc. Sept. 12, working part-time while he finishes his International MBA.