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Costa Rica will host the XIV Microenterprise Forum in October

Participants are invited to send agenda proposals and nominations for awards for microenterprise development

Costa Rica will host the XIV Inter-American Microenterprise Forum (Foromic 2011), the most important annual microfinance and microenterprise development event in Latin America and the Caribbean.

Foromic will be held in the Costa Rican capital of San José October 10-12, 2011. The event is organized by the Multilateral Investment Fund (MIF) of the Inter-American Development Bank in collaboration with Costa Rica’s ministries of finance and economy, industry, and trade.

IDB President Luis Alberto Moreno and Costa Rican President Laura Chinchilla will open the Foromic, which annually attracts thousands of delegates from financial and microfinance institutions, associations of microentrepreneurs, government agencies, universities, NGOs, and international organizations working in the sector.

A central theme of this year's Foromic will be the inclusion of micro and small producers in economic activities through improved access to financial services, markets for their products, and basic services. Participants will also discuss issues such as public policies for microenterprises, transparency in the microfinance sector, micro-franchising, clean energy, youth and entrepreneurship, savings, and technology for financial inclusion. Registration for Foromic will begin June 1.

MIF invites organizations and institutions to submit proposals for content and panelists for Foromic 2011 sessions relevant to the event’s theme. Proposals must be submitted no later than June 10, 2011. For more information visit:

Awards for Microenterprise Development

As part of the event, MIF will present the Inter-American Awards for Microenterprise Development. Prizes will be given in four categories, best microfinance institution, best rural microfinance institution, excellence in enterprise development services, and local entrepreneurship in Costa Rica. Winners in these categories will also receive certificates for training or technical assistance sponsored by Citi Foundation.

The competition is open to microfinance institutions, credit unions, commercial banks, and NGOs specializing in microfinance and enterprise development services.

This year’s Award for Excellence in Enterprise Development Services will recognize the outstanding work of an organization or network of organizations for inclusion of rural micro and small producers in agricultural value chains. Nominations for this category must be submitted by June 15, visit: for more information.

When Foromic began in 1998, the region had only 205 microfinance institutions serving 1.5 million customers. Today, Latin America’s microfinance sector has some 600 institutions with approximately 9 million customers who receive $9 billion in loans annually.

MIF is an autonomous fund administered by the IDB that promotes private sector development in Latin America and the Caribbean with emphasis on micro and small enterprises. Since its founding in 1992, MIF has been a major supporter of microfinance in the region.

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