Microfinance Focus, November 8, 2011: The ACP-EU Carib-Cap Microfinance Forum III will take place in the Bahamas next week from November 13-16. The forum will bring together local microfinance institutions (MFIs) and international specialists to address the theme “The Caribbean model for growth: diversification, regulation, accountability”.

Topics such as growing MFI’s with the appropriate technology and the role of commercial banks in the microfinance Industry are on the agenda.

Carib-Cap (Caribbean Microfinance Capacity Building Project) is a $3 million project funded by the Inter-American Development Bank, the Caribbean Development Bank and the European Commission, through ACP/EU MICROFINANCE.

It was launched in 2008 to build the capacity of the microfinance sector in the English-speaking Caribbean area, which suffered from low outreach, high arrear rates, dependency on subsidies and poor regulatory frameworks.

EU/ACP Microfinance Framework Programme helps poor people in African, Caribbean and Pacific (ACP) countries get better access to appropriate financial products and services. The Programme builds capacity of microfinance actors and advances transparency in the industry.

As of 2010, 18 Caribbean MFIs underwent an eye-opening Performance Assessment. Ten of them then entered a Capacity Building process consisting in extensive and tailored Technical Assistance.