Generation Next: Innovations in Microfinance

The 17th annual Microcredit Summit kicks off next week on September 3rd in Merida, Mexico with a new twist – innovation. While the concept of microfinance is not new, the narrative of how financial services can help the very poor lift themselves out of poverty continues to change as technological advancements and social innovations propel microfinance programs forward. Investors, government agencies, and NGOs around the world are getting creative to help those in extreme poverty access financial services.

The Microcredit Summit Campaign, with the support of the Ministry of Economy (Mexico) and its National Microenterprise Financing Program, will bring together key stakeholders for this year’s summit, Generation Next: Innovations in Microfinance. To help the next generation build pathways out of poverty, the nearly 800 attendees will share best practices and their out-of-the-box ideas for providing financial services to people in need around the world.

We are trying to answer the question of how to better serve the next generation of clients and promote client-centered microfinance. How do we adopt and utilize the next generation of technological innovations? How do we cultivate the next generation of microfinance leaders? And, how do we set up regulatory frameworks to promote innovations and cultivate transparency? – Larry Reed, Director, Microcredit Summit Campaign

Long before the first Microcredit Summit, RESULTS enthusiastically supported the microfinance movement. At the first Summit in 1997, RESULTS helped set an ambitious goal of reaching 100 million of the world’s poorest with credit by 2005. After gaining widespread support for one measurable goal to reach those in extreme poverty, RESULTS expanded its involvement in the microfinance field and created the Microcredit Summit Campaign.

The Microcredit Summit Campaign launched in 1997 and quickly established itself as a vital resource to the microfinance sector. Just 10 years after the first Microcredit Summit, microfinance reached 100 million of the world’s poorest and by 2010, the number of microfinance borrowers grew to over 205 million. Identifying failures and developing solutions to reaching those living in extreme poverty, the Microcredit Summit Campaign continues to lead the charge in the field of financial inclusion.

The 17th Microcredit Summit’s action-packed program includes keynote speakers, plenary sessions, workshops, field visits, and trainings. Generation Next: Innovations in Microfinance will feature appearances by Nobel laureate Muhammad Yunus of the Grameen Bank, Yves Mouy of Fundación Capital, and Mariella Greco of Plan Peru among many other development actors.

Whether you are interested in building global partnerships, promoting financial inclusion, or learning more about how to reach the most vulnerable communities with financial services, this year’s Microcredit Summit offers something for everyone! 

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