Microfinance Cracking the Capital Markets II
May 2007, Reddy, R.
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Insights from the 'Microfinance Cracking the Capital Markets II' conference held in New York in March 2007

This issue of InSight discusses:

• The state of investment in microfinance, looking specifically at: foreign capital investment and the two main actors – international financial institutions (IFIs) and microfinance investment vehicles (MIVs);
• Innovative deals in structured finance, examining debt finance, ‘collateralized debt organization’ structure, investment in mezzanine funds, MFI portfolio securitization and equity finance;
• Risk in microfinance, examining various kinds of risks and how to measure and manage them;
• Valuing social impact in microfinance, exploring various approaches to measuring social impact in microfinance as well as various initiatives in measuring social performance;
• Steps towards building a mature microfinance market, such as:
  • The valuation and frequent pricing of microfinance investments;
  • Attaining liquidity to build a secondary market for microfinance;
  • Equity investments;
  • Improving information for investors.
• Building demand for investment in smaller, newer MFIs.

The newsletter concludes that capital markets can play a crucial role in scaling microfinance. However, microfinance needs to surmount key technical barriers, related to pricing, liquidity and ease of access to information before it can truly crack the capital markets.

16 Sep 2009

United States

19 Mar 2009

United States

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Journal Volume/Pages:
17

Publisher(s):
ACCION International

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