2011 was an extremely busy year for the FreemE project. In Egypt the Arab Spring raised the hopes of millions of people, although unfolding events sometimes slowed things down. However, the various research studies undertaken over the last few months in Mansoura, Assiut and Cairo showed that small-scale income-generating activities were as dynamic as ever and that there was a strong desire to exploit opportunities in new sectors and markets. In view of the risks posed by a reduction in energy subsidies, access to renewable energy and more energy-efficient equipment can be an opportunity for these small scale economic activities. Given that these subsidies account for a relatively significant share of the Egyptian government’s budget (between 6 and 8%), their continuation cannot be guaranteed at a time when the country is undergoing radical political change.

The PlaNet Finance Foundation was recognized as being of public utility by decree, on the 13th of January, 2012.

The PlaNet Finance Foundation helps poor populations who are excluded from the formal banking system, develop their independent income generating activities. The accompaniment of these microentrepreneurs sustainably improves their living conditions and those of their surrounding communities. The Foundation finances projects implemented and managed by the main development and microfinance actors worldwide. It also contributes to the amelioration of the social impact of microfinance by adhering to, and communicating best practices.
 

Our report on Mobile Banking in partnership with Oliver Wyman was one of the most read publications on Microfinance Gateway in 2011. It was given a 5 stars rating.

The report is avaiable on our website (Media, Other Publications) as well as on this link : http://www.microfinancegateway.org/p/site/m/template.rc/1.9.50102/

Below, a comment of Paul Robinson, from the International Finance Corporation, on May 13th, 2011

This is an interesting report from PlaNet Finance *****

This is a really interesting report. I had the opportunity to meet the Planet Finance project managers in Ivory Coast (Louis Koffi and Simon Priollaud)who actually did a really good job working with a local MFI. I am looking forward to read the next Planet Finance report.

Paul Robinson
IFC
Italy

 

In recent years, microfinance has been booming in China, with over 3,000 Microcredit Companies in operation by 2011, and outstanding loans reaching RMB 200 billion, expanding financial access to the many Chinese microentrepreneurs who often lack the loans necessary to develop income generating activities and a sustainable livelihood. However, with the Chinese microfinance sector now entering a period of rapid growth, risk management will be decisive for the sustainable growth of the sector. “Robustness” will be a necessary foundation for the Chinese microfinance industry and individual microfinance institutions to grow further, control over-indebtedness, and access new funding sources.

Through the “Microfinance Robustness Program”, supported by the Credit Suisse Microfinance Capacity Building Initiative, PlaNet Finance aims to help the Chinese microfinance sector prepare for its long term success and integration within the financial system by strengthening risk management in line with internationally accepted frameworks and guidelines for risk management, while delivering key solutions that will become references in the sector for risk management best practices. The 1 year program will have a 3 pillars approach:

“Risk Management System” - Technical Assistance for Microfinance Institutions (MFIs)
This pillar aims to support 1 designated Chinese MFI in reducing its risk profile and getting prepared for new funding schemes. Acting as an incubator, the objective is to build “best in class” MFIs matching current risk requirements of regulators and capital markets, becoming a visible case study and replicable model for the microfinance sector in China.

Training: Chief Financial Officers and Chief Risk Officers Capacity Building Platform
This training initiative for Chief Financial Officers (CFO) and Chief Risk Officers (CRO) of Chinese MFIs has the objective to get the right people prepared for the implementation of best practices in risk management, through targeted training on risk management topics.

Risk Management Research and Awareness
In collaboration with a renowned research institution, research on a “sound development of refinancing microfinance in China” will be delivered, with the aim of bringing support to an area critical to the long term sustainability of the Chinese microfinance sector.

About PlaNet Finance
PlaNet Finance's mission is to help poor people develop income generating activities, in order to sustainably improve their living conditions. PlaNet Finance has a worldwide network of 122 experts and is active in about 50 countries. Since 2003, PlaNet Finance has been active in over 20 provinces in China, offering advisory services and technical assistance to microfinance actors to improve their financial and social performance as well as supporting microentrepreneurs in their endeavors. Successful projects in China have included the establishment of Microcred, the first fully foreign-owned microcredit company in Sichuan province, and the provision of comprehensive microfinance technical assistance to Harbin Bank and Changxing Village Bank. With its Microfinance Plus Programs, PlaNet Finance in China also leverages microfinance institutions' networks and resources to tackle other critical issues such as health, environment, education and rural development. PlaNet Finance is a member of the PlaNet Finance Group.

www.planetfinancegroup.org,
www.planetfinancechina.org

Press Contact
PlaNet Finance Headquarters (Paris - France)
Marlène Biard – mbiard@planetfinance.org
+33 (0)1 49 21 26 15

PlaNet Finance China (Beijing - China)
Ed Wu – edwu@mfchina.cn
+86 10 84408458/8468

This edition was undoubtedly exceptional with prizewinners coming from France, but also from Egypt, Palestine, Niger and Vietnam, and a large audience. Mrs. Irina Bokova, General Director of UNESCO was the special guest of the ceremony. She talked about the role of microfinance in fighting against poverty and promoting peace via education.

What do Queen Sofia of Spain, Nobel Peace Prize Laureate Muhammad Yunus, Group Danone Chairman Franck Riboud, former Mexican President Vicente Fox and Sir Fazle Abed of BRAC all have in common? From November 14-17, 2011, they will join some 2,000 activists and poverty fighters from more than 100 countries in Valladolid, Spain, for the Global Microcredit Summit, a gathering held once every five years.

Take this opportunity to meet with Arnaud Ventura, Vice President of PlaNet Finance Group who will chair the workshop "Why Managing for Social Performance is More Important than Just Measuring It, and How Can MFIs Best Use These Insights?" on November 14 - 16:30-18:00. (to read the abstract, click here)

To know more about this event: http://www.globalmicrocreditsummit2011.org

To receive a 10% discount, register for the Summit online by November 11, 2011 using this code: MCSDIS