Advances in financial inclusion will be the focus of Foromic in Chile

Region´s largest event on microfinance and entrepreneurship to be held October 26-28 with 1,200 participants from more than 40 countries

The Inter-American Microenterprise Forum (Foromic), the largest annual event related to microfinance and entrepreneurship in Latin America and the Caribbean, will be held in Santiago, Chile, from October 26 to 28. The 18th edition of the event will focus on the current and future state of financial inclusion in the region and the roles of new technology, innovation, data analysis and regulatory changes in various countries in the region.

The meeting is organized by the Multilateral Investment Fund, a member of the Inter-American Development Bank Group, and by Chile’s Ministry of Economy, Development and Tourism.  Some 1,200 participants are expected from more than 40 countries—among them representatives of financial institutions, the public sector, businesses, chambers of commerce and industry associations, non-governmental organizations and foundations, as well as academic and research institutions.

In recent years, the microfinance sector in Latin America and the Caribbean has become one of the world’s most developed and dynamic, with more than 1,000 microfinance institutions serving an estimated 20 million clients.

Foromic traditionally focuses on topics related to the development and promotion of micro-, small and medium-sized enterprises, microfinance, business start-ups and entrepreneurship. The forum seeks to stimulate dialogue, the exchange of best practices and reporting on recent trends; to bring together different actors; and to create an environment for innovation in the most important issues facing microenterprises.

The 2015 Forum will feature 15 panel discussions and two plenary sessions. Major topics to be covered will be the promotion of financial inclusion among societies that are becoming increasingly “cashless,” whose relationships with traditional banks are continuously evolving, and that have access to a broad array of mobile applications and media channels that—thanks to advances in telecommunicationsare not bound by geography.

One topic of particular relevance to Chile is the availability of microinsurance to help cover the cost of natural disasters. Additional panels will focus on technology to support micro-, small and medium-sized enterprises, green finance, impact investment, finance for social enterprises and retirement savings.

Registration for members of the media is open and accessible via Foromic.  

About the IDB

The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source oflong-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.