Human Resource Development Network is organizing its 4th International HRD Congress on the theme “Promoting Microfinance and Financial Inclusion for Human Development. The 4th International HRD Congress aims to contribute towards furthering the growth and health of the microfinance industry in Pakistan. The Congress will bring together a multitude of stakeholders and international experts for discussion and debate about the key challenges of the microfinance sector at macro, meso and micro levels and formulation of specific recommendations. The venue and date will be announced soon.
Today microfinance is being promoted as one of the most promising tools for alleviating poverty in most of the poor and developing countries. Most notable among the success stories of microfinance is the Grameen Model pioneered by Nobel Laureate Dr. Mohammad Yunus which has led to widespread access of microfinance services in Bangladesh. This has also directly or indirectly inspired innumerable replications and adaptations of the Grameen model in many parts of the world especially in Asia, Latin America and Africa. As a result, microfinance is perhaps the fastest growing industry in countries like India, Pakistan, Brazil, Tanzania, Nicaragua and many other low income countries registering an annual growth of between 40% to more than 100%, with more than 57.0 million borrowers worldwide.   

In Pakistan, microfinance sector is expanding at around 40% per year and has succeeded in reaching out to more than one million clients in 2007. This is an impressive achievement with regard to the outreach and as a result the PM of the country has approved an MF strategy which aims to increase the number of microfinance clients to 3.0 million by 2010 and to 10.0 million in the long run. However meeting these targets is contingent upon rectification of some fundamental shortcomings in the microfinance industry of the country. Significant among these are lack of self sustaining microfinance institutions, excessive focus on micro credit as opposed to other equally important microfinance services like savings and insurance, limited rural penetration, low level of financial literacy and absence of a local capital market for microfinance.
Coming out of isolation and looking at the experiences of some of the developing countries in Eastern Europe, the issues suggests that ‘blanket’ reforms such as generic SME support, commercial-oriented microfinance lending, and the liberalization of business environments, are too often pursued without paying proper attention to local and global conditions. To address such issues HRDN intends to initiate policy dialogue through the forum of HRD Congress.

The congress will bring together eminent scholars, practitioners, business and civil society leaders, policymakers, senior government officials and representatives of donor agencies from Pakistan and abroad. In this two-day event, the delegates will explore the role of governance, political forces, corporate entities, academia, civil society, religious leadership and media in contributing towards microfinance promotion and financial inclusion for human development.

SESSIONS

• Innovations in microfinance; product and process diversification
• Missing link in Microfinance; micro-savings
• Use of technology; branchless banking and m-banking
• Should microfinance be subsidized?
• Impact of microfinance on basic human development indicators; evidence from around the world
• Is Microfinance alone going to make the difference?
• Does Microfinance address the causes of poverty?
• Microfinance in Pakistan; what lies ahead?
• A new approach to helping the poor; Akhuwat Model