ICOMF10 – International Conference on Microfinance, Pondicherry, 2010

This year the Third International Conference on Microfinance organized by Pondicherry University was held from the 22nd to 24th January, 2010.  The conference was well attended with several delegates and participants from all over the country landing up in this lovely little coastal town for the three-day jamboree.  The highlight of the event though, was the innovative approach of integrating self-help groups and small local microfinance institutions into the mainstream conference. Not only were site visits organized to enable participants to observe first-hand the activities of the local microfinance institutions, but more importantly, the third day was almost entirely devoted to very close interaction with the local self-help groups and microfinance institutions.  This session was primarily intended to provide academicians with a ringside view of the world of microfinance and give an opportunity to the Self-Help Groups (SHG) to voice their views and opinions on their real issues.



In a sense, the concept of an integrated approach seemed to be the theme around which the entire conference seems to have organized itself.  In fact, during the inaugural session one of the keynote speakers came up with the A+B+C+D+E (Academician + Bureaucrat + Credit Agency + Development Agency + Entrepreneur) formula for successful microfinance;  and quite coincidentally, it was this combination of these five important players throughout the conference that lend the entire proceedings its charm.  This was also quite evident in the academic discussions (paper presentations), panel discussions inter alia on capacity building, skill development, innovation, technology and self-help groups; the icing on the cake was the site visits and the presentations by SHGs and local microfinance institutions.



One recurrent theme that evidenced itself, albeit in different forms, was the need for an integrated approach to dealing with the core objective of financial inclusion and poverty alleviation.  Whether it was with skill development, capacity building, or the status of the SHG-Bank-Linkage program, it occurred to me that Microfinance had reached the next level of maturity, where it was now essential to go beyond the usual rhetoric of recovery rates and outreach, and look at the more fundamental issue of financial inclusion from a perspective of poverty alleviation.



The integrated approach to inclusive growth is a theme I would like to explore. I welcome feedback / inputs from readers on this subject; I hope to be writing a little more about this as my experience with the subject grows.