BARBADOS HOSTS BIGGEST MICROENTERPRISE FORUM IN LATIN AMERICA AND THE CARIBBEAN

Washington, August 9- Barbados will host this year’s XV Inter-American Microenterprise Forum (Foromic 2012), the biggest annual microfinance and microenterprise development event in Latin America and the Caribbean.

More than 1,000 participants are expected to attend Foromic, which for the first time ever will be held in an English-speaking Caribbean country. The event this year will focus on innovative ways to unlock entrepreneurship and will take place in Bridgetown October 1–3. It is being organized by the Multilateral Investment Fund (MIF), a member of the IDB Group, in collaboration with the Government of Barbados.

The forum will have the participation of impact investors and delegates from financial and microfinance institutions, associations of microentrepreneurs, government agencies, non-governmental organizations, international organizations, foundations and the academia working in the sector.

The first day of the conference on Oct. 1 focuses on Barbados and the Caribbean, with panels discussing development opportunities for small businesses, microfinance, entrepreneurship among youth and women, and emerging business from renewable energies.

The conference program for the second day will highlight innovative financing models for small and medium-sized businesses as well as expanding business models to provide financial services for the poor beyond microfinance to include savings. As in previous years, the latest developments in microfinance are at the center of the event, which will have panels presenting lessons learned about the effective use of new technologies in providing financial services, improvements in corporate governance, and promising innovations in rural and agricultural finance.

The last day features panels on impact investing as an opportunity for the Caribbean, and ways to unlock women entrepreneurship. Finally, improving client protection and financing models to finance green businesses, particularly related to renewable energy and energy efficiency will close the conference.

During the event’s inauguration, the MIF will deliver the Inter-American Awards for Microenterprise Development. The ceremony will announce awards for the following categories: best microfinance and microsavings institutions in Latin America and the Caribbean, and the best institution promoting livelihoods opportunities for disadvantaged youth.

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