 May 23, 2005 - Washington, DC. On Thursday, May 5, the Private Sector and the Knowledge Management Units of the Latin America and Caribbean Region of the World Bank launched - in cooperation with the Global Development Learning Network (GDLN) and the Microfinance Institutions Network of Central America (REDCAMIF) - a series of dialogues via videoconference addressing innovative microfinance topics.
The first event tackled the issue of Leasing for micro, small and medium enterprises for Central American countries. In this first videoconference, speakers Sandra Broka (WB), Claudia Alvarez (WB) and Marco Aurelio González (IFC) explained the characteristics of leasing products and how they can help further develop these small businesses. All speakers illustrated the topic with practical examples from Eastern Europe and Central Asia, Colombia, Honduras, Nicaragua and Peru.
In the discussion segments, the 150 participants –mainly representatives from microfinance institutions from Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama- shared their experiences with Leasing and working groups identified the strengths, shortcomings and possible steps to promote the use of leasing products in their institutions.
The main issues raised were the need for:
- Mechanisms to control risk
- Property registries for machinery and equipment
- Insurance for leased goods
- Changes in leasing legislation
- Expanding the range of leasing goods beyond cars
- Designing leasing products for sectors with mainly female participation
Mike Goldberg, Senior Microfinance Specialist (LCSFP), set up this initiative with two goals: (1) to demonstrate that the World Bank is not only a lending institution but also can play an important role by disseminating technical knowledge, and (2) to build capacity in microfinance institutions in Central America for future World Bank operations. Specifically, Mr. Goldberg will launch a project in Nicaragua in which ASOMI, a national microfinance network will be involved.
Other topics will include Microfinance and Progressive Housing (June 8, 2005), micro-insurance, and remittances. For more information please contact Daniel de la Morena (LCRKM) at ddelamorena@worldbank.org.
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