Achievement Awards for Microfinance Professionals Mark the Successful Conclusion

The Third Iraq Microfinance Partners Workshop, organized on November 17 by the USAID-funded IZDIHAR project, brought together over 70 microfinance professionals and practitioners from all over Iraq in a forum to assess the progress of the industry and debate major issues relevant for its ongoing development.

The lively debate sparked by the presentations made to the workshop focused on issues that ranged from financial transparency to sustainability and increased cooperation between microfinance institutions and the Small Business Development Centers (SBDC). Particular attention was given to the possibility that the MFIs and the SBDCs work together to launch a new microfinance product, the “start-up loan,” requested by many Iraqi entrepreneurs that attended the courses provided by the business development centers. One happy indication that the industry has grown and matured was the ceremony in which the staff of the international and indigenous microfinance institutions (MFI) operating in Iraq were accorded, for the first time, with performance awards.  The Director of the USAID Mission in Iraq, Mr. Christopher Crowley, personally awarded the certificates that acknowledged, among others, the “Best Performing Loan Officer” and “The Best New Entrant to the Iraqi Microfinance Industry”. “Microfinance in Iraq has greatly improved since last November, when we participated in the first National Microfinance Summit,” said one of the keynote speakers, Ms. Lene Hanson. “The industry is much more mature now and the level of professional debate is definitely higher than last year,” said Ms. Hanson, currently Chief of Party of a World Bank Microfinance project in the West Bank. Since November 2006, three new indigenous institutions joined the microfinance family in Iraq. Between November 2006 and October 2007, the amount of the loans disbursed by all microfinance institutions operating in the country grew from 39,173 loans worth $78,844,339 to 62,460 loans worth $131,376,528. “This workshop was instrumental in taking stock of progress since the MF Summit held at the same time last year; and it marks a turning point, one that will allow for a re- alignment of programmatic interventions that will ensure the sustainable growth of the industry in the coming years”, said Mr. Vohra, Chief of Party of the IZDIHAR project.

Caption1: The Third Microfinance Workshop was attended by representatives of all microfinance institutions operating in Iraq, who shared experience and ideas with representatives of the USAID, Provincial Reconstruction Teams and Small Business Development Centers.

Caption2: All awarded participants at the Microfinance Workshop.

Caption3: USAID Mission Director, Mr. Christopher Crowley (center), awarded the “Best Performing MFI” prize to CHF. The conference materials are:

• Overview
  1. 3rd MF Survey Sheet.
  2. 3rd MF Workshop Agenda.
  3. Third Microfinance Partners Workshop Survey Results.
• Presentations
  1. 3rd Microfinance Partners Workshop Suleimanya 17 November 2007.
  2. ACDIVOCA Presentation.
  3. Al- Bashair Organization PROGRESS till July 31.
  4. Al-Aman.
  5. Al-Intilaq Presentation Nov 11-15 Oct 26.
  6. Al-Takadum.
  7. Al_Bashaer_3rd Workshop presentation.
  8. Benchmarking: Comparing Iraqi MFIs to Mena MFIs.
  9. Business Development through small business development centers.
  10. CHF ACSI Presentation.
  11. External Audit Presentation.
  12. IMFI Training Update And Future Capacity Building.
  13. Information On The GOI MICRO Lending program.
  14. Microfinance Technologies Main Pillars - 1.
  15. Nenawah Economic Development Center NEDC.
  16. Outreach Monthly Report Form.
  17. Overiew Of New Reporting Requirements MF.
  18. Quarterly Financial Reporting.
  19. Relief International Presentation.
  20. The Izdihar Microfinance Component Program.
  21. The Third Microfinance Workshop.
  22. Training and Capacity building.