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Supporting microfinance in the MENA region European Microfinance Week Francesco Consiglio, EIB Luciana Tomozei, EIB. 1. EIB Microfinance Support: Objectives for the MENA region. Support the development of private and financial sector - PowerPoint PPT Presentation
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[email protected] www.e-mfp.eu1
Supporting microfinance in the Supporting microfinance in the MENA regionMENA region
European Microfinance WeekEuropean Microfinance Week
Francesco Consiglio, EIBFrancesco Consiglio, EIBLuciana Tomozei, EIBLuciana Tomozei, EIB
[email protected] www.e-mfp.eu2
EIB Microfinance Support: EIB Microfinance Support: Objectives for the MENA regionObjectives for the MENA region
Support the development of private and financial sector
Small operations with high value added, leading to well governed MFIs
Integration of MFIs with local financial market
Variety of instruments offered, including capacity building
[email protected] www.e-mfp.eu3
EIB’s activity in the regionEIB’s activity in the regionActive operations, EUR 27m:
Name Country CommitmentDisbursed
amount
Al Majmoua microfinance Liban 1.5 M € 0.8 M €
DBACD Egypte 2.0 M € 2.0 M €
First MicroFinance Syria Syrie 2.0 M € 2.0 M €
ENDA Tunisie 2.0 M € 2.0 M €
ENDA (Appui secteur privé) Tunisie 0.8 M € 0.8 M €
Association Micro Crédit I – AMSSF Maroc 0.5 M € 0.5 M €
Association Micro Crédit I - Al Amana Maroc 5.2 M € 5.2 M €
Association Micro Crédit II - Al Amana Maroc 5.0 M € 5.0 M €
Association Micro Crédit II –FONDEP Maroc 3.3 M € 3.3 M €
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Regional context update (I)Regional context update (I)
Situation in the MENA region:
Not enough or too much funding?
Penetration rate in the region is still low
Most funds concentrate on a few stronger MFIs
Appetite for equity investments but opportunities are scarce
Capacity Building issue, especially for smaller MFIs (governance, staff, transparency, internal organisation)
Legislation issues
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Regional context update (II)Regional context update (II)
Impact of the revolutions in the Arab region:
Revolution in Tunisia, then in Egypt and finally in Libya was a surprise and brought unexpected problems;
New risks (e.g. for Tunisia: reputational, perceived link with Government, insecurity, economic crisis, PAR levels, refugees from Libya …);
Actions taken by MFIs (portfolio monitoring, rescheduling of loans, contact with clients);
Lessons learnt by MFIs: risk management, governance, staff satisfaction, new opportunities.
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MicroMEDMicroMED
Timely and targeted response to microfinance needs in the region
Aims at contributing to financial inclusion
EC actions:Regulatory supportKnowledge sharing
Microfinance needs:Technical assistance,
capacity buildingFunding, etc.
EIB and bilateral support:Expertise (targeted TA,
capacity building)Funding
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MicroMED - TUNISIAMicroMED - TUNISIAEIB and Gov. of Luxembourg envisage joint actions
TA: Immediate support for microfinance regulatory change in Tunisia at the request of the MoF
Capacity building modules for MFIs Rating activities: rating co-financing Develop pilot projects (e.g. micro-credit,
micro-insurance, mobile finance)
Aim: to replication of these tools to other countries in the region
MicroMED
Tunisia
I - Targeted TA
Credit Bureau
Role of the Post
Mobile finance
Micro-savings
II - Capacity building
Risk management,
Performance indicators,
Train the trainers,
Rating activities
