IDB’s ‘Foromic’ to be held in Uruguay

Microfinance Focus, May 29, 2010: The 13^th Inter-American Microenterprise Forum, Foromic 2010 of the Inter-American Development Bank’s Multilateral Investment Fund (MIF) will be held in Montevideo, Uruguay from October 6-8, 2010, according to a press release. During Foromic 2010 the MIF will present its annual awards for microenterprise development in Latin America and the Caribbean. The contest is open to microfinance institutions, credit unions, banks and NGOs specialized in microfinance and in providing enterprise development services in this region.

The awards for best microfinance institution and best practices in social performance will be based on objective indicators that track hundreds of organizations in the field of microfinance in Latin America and the Caribbean. The winners will also receive a special recognition from the Citibank Foundation. This year the award for excellence in enterprise development services will recognize organizations that provide innovative solutions for micro-entrepreneurs and small businesses in rural areas. Nominations for this award will be received until June 4.

Every year Foromic draws more than 1,000 delegates from financial institutions, consulting firms, government agencies and international organizations interested in microenterprise. Registration for the event will open on June 1. The MIF, an autonomous fund administered by the IDB, promotes prívate sector development in Latin America and the Caribbean, with an emphasis on microenterprises and small businesses. Since its establishment in 1992 it has been a leading supporter of microfinance in this region.

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